FG earns $4.820bn from non-oil export in 2022

Nigeria recorded a non-oil export earnings of $4.820 billion in 2022, the Nigerian Export Promotion Council (NEPC) has disclosed.

The Executive Director/CEO of NEPC, Dr. Ezra Yakusak said this on Friday in Abuja while presenting the non-oil export performance for year 2022 to newsmen.

According to Yakusak, this represented an increase of 39.91 per cent over 2021.

He said that the figures represent data collated from the various Pre-shipment inspection agents appointed by the Federal Government under the Pre-shipment Inspection Act, 2004.

“About 214 different products ranging from manufactured, semi-processed, solid minerals to raw agricultural products were exported in 2022.

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“Of these products exported, Urea/Fertiliser topped the list with 32.87 per cent.

“The emergence of Urea/Fertiliser as the highest exported product in 2022 can be attributed to the Russia-Ukraine war which created an avenue for Nigeria’s Urea/Fertilizer to thrive.

“It is worthy to note that our products were exported to 122 countries with Brazil recording the highest import value of 12.27 per cent,” he said.

Giving a breakdown of the non-oil performance, Yakusak said that 1,172 exporters participated with Indorama-Eleme Fertilizer and Chemical Limited taking the lead with 23.25 per cent.

“Thirty-one issuing banks participated with Zenith Bank Plc processing the highest NXP values, 19 exit points were used with Apapa Port recording the highest tonnage.

“The month of December recorded the highest export value of 10.37 per cent,” he said.

The NEPC boss, however, regretted that of the top 10 importers of Nigerian products, no African/ECOWAS country made it to the top 10.

The Star