The Nigerian Export Promotion Council (NEPC) has reported a significant 20.79 per cent increase in the country’s non-oil exports, reaching $5.46 billion in 2024, up from $4.5 billion in 2023.
Nonye Ayeni, the Executive Director of NEPC, revealed these figures while presenting the Council’s performance report in Abuja on Friday.
She noted that the growth reflects Nigeria’s ongoing efforts to diversify its export sector and reduce its dependency on oil revenues.
The rise in non-oil exports was largely driven by sectors such as agriculture, manufacturing, and solid minerals. Key exports included agricultural products like cocoa seeds, sesame seeds, cashew nuts, and urea, alongside an increase in manufactured goods.
Ayeni said that the achievement is a result of effective collaboration with relevant agencies and institutions, as well as the federal government’s initiatives to enhance trade policies.
Despite global economic challenges, she noted that the 2024 performance demonstrates the positive impact of Nigeria’s strategic focus on economic diversification.
She said, “This achievement can be attributed to the active diversification of the economy through the non-oil sector, with a focus on promoting agriculture, solid minerals, and manufacturing.
“It also reflects the positive impact of the federal government’s efforts to enhance trade through effective fiscal and financial policy implementation.”
