Non-oil export grew by 39.9 percent in 2022 to $4.82bn — NEPC Executive Director
By Matthew Denis
The Executive Director and Chief Executive Officer of Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak has disclosed that Nigeria’s non-oil exports grew by 39.91 percent in 2022 to $4.820 billion.
He made the disclosure during the 2nd National Conference on Non-oil Export held in Abuja on Wednesday.
The NEPC CEO said, “I am glad to inform this august gathering that the implementation of the communiqué coupled with the novel interventions by the Council in various ways have significantly increased the contribution of the non-oil sector to the Nigerian economy in year 2022.
“Permit me to inform you that for the first time, the non-oil export performance grew by 39.91 per cent in 2022 to $4.820billion with about 214 different products exported ranging from manufactured, semi-processed, solid minerals to raw agricultural products. It is noteworthy that Nigerian products were exported to 122 countries across the globe.”
Speaking on the theme of this conference year’s conference, ”Building a Sustainable National Economy through Non-oil Export,” Dr. Yakusak stressed that it was carefully chosen in view of the current economic realities of dwindling government revenues and foreign exchange deficits which has proven beyond doubt that crude oil can no longer sustain the economy.
He emphasised that, “The path to sustainable growth is non-oil export. Also to align with the Federal Government’s renewed hope agenda, the NEPC is saying that all hope is not lost. The non-oil sector can salvage our economy and make it even stronger.”
According to him, “The Council has ensured Three additional Export Trade Houses were established in Lome-Togo, Nairobi- Kenya, and Hunan Province in China, bringing the total number of the Trade Houses to four. Arrangements are being finalised to launch the Export Trade House in Dubai, UAE under a Public Private Partnership.
“In line with the communique, the Council created an Export of Services Division. Similarly, the first national conference on Trade in Services was held in July, 2023.
“The Council has provided relevant certifications to 154 SMEs. 200 other SMEs are presently undergoing various certifications for HACCP, FDA, ISO 2000 and Halal, to enable them penetrate niche markets and maintain quality and standard of Made in Nigeria Products.
“In order to encourage Banks to adopt the use of Trade Finance Instruments, the Council organised a technical session for scheduled Officers of all Commercial Banks in Nigeria.
“In line with the communique, backlogs of Export Expansion Grant for 375 beneficiaries were cleared.”
Dr. Yakusak revealed the challenges being faced by farmers and exporters of ginger in Nigeria.
“It is a known fact that Nigeria’s ginger has been adjudged as the best in the world due its unique aroma, pungency and high oleoresin content. This makes Nigeria one of the largest exporters of ginger in the world.
“However, the Council received several complaints of the outbreak of a strange disease ravaging ginger farms in Kaduna State. So far, about 2,503.9 hectares of farmland have been affected with an estimated loss of over N8billion. Apart from the huge financial and economic loss, the disease is affecting the income and livelihood of ginger farmers who are mostly MSMEs.
“With the outbreak of the disease, Nigeria’s non-oil export performance may experience a steep decline, except the issue is adequately addressed. May I stress that this is not the time for us to accommodate any minute disruption in our foreign exchange inflow.”
He stressed that in the current state of the Naira, every single source of foreign exchange must be carefully and jealously protected.
“It is in this direction that I call on the Federal Government to declare the ginger fungi infestation as a crop pandemic and fight it with the same viciousness our nation fought COVID- 19 pandemic to a standstill.”
