• Business - Economy
  • Updated: February 12, 2024

Nigeria's non-oil exports surged to $4.517 billion in 2023

Nigeria's non-oil exports surged to $4.517 billion in 2023

Despite the various obstacles that impacted the country's economy, Nigeria's non-oil export trade grew from $2.210 billion in 2020 to $4.517 billion in 2023.

Speaking at a training workshop for 100 exporters held in Calabar over the weekend, Dr Osas Omorogbe, Coordinator of the Nigeria Export Promotion Council (NEPC) (Cross River State Coordinating Office), made this statement.

To help participants in the industry break even financially, the Nigerian Export Promotion Council held a course aimed at providing newly hired exporters with knowledge of the fundamentals of export commerce.

Omorogbe said, “As you may be aware, Nigeria’s non-oil exports have grown from $2.210 billion in 2020 to  $4.517 billion in 2023, despite the numerous challenges affecting the economy.

“However, the continuous depreciation of the Naira against other currencies depicts the dire need for the country to earn more foreign exchange”

“Based on the foregoing, the Nigerian Export Promotion Council has doubled its campaign and activities to increase export activities in the country’.

The coordinator expressed gratitude to Nonye Ayeni, the recently appointed executive director/CEO of the Nigerian Export Promotion Council, for starting the "Operation Double your Exports" campaign, which has the potential to significantly improve the financial situation of industry participants.

”This sensitisation workshop is therefore intended to arouse the interest and build the capacity of the Council’s newly registered companies and cooperatives to take practical steps towards venturing into the export sphere’

Dr Abigail Duke, the state commissioner of commerce, opened the training workshop by reminding participants that there are no shortcuts in the export trade industry and advising exporters to utilise state government initiatives to increase export trade.

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