The Nigerian Export Promotion Council (NEPC) on Monday said that the country generated USD2.539 billion from non-oil exports in the first half of 2023.
NEPC Executive Director of NEPC, Yakusak Ezra, said this in Abuja at the presentation of the first half-year progress report on the non-oil export performance for 2023.
Yakusak said that the sector recorded a dip in the value of export in the first half-year of 2023 due to the general elections and changes in global economic conditions.
According to him, the non-oil export returns from the various pre-shipment inspection agents indicated that 3,944,344.17 metric tonnes of products worth 2.539 billion dollars were exported between January and June 2023.
He said that the figure was against the sum of 2.593 billion dollars for the corresponding period of 2022.
“From these figures, it is apparent that a slight decrease of 0.09 per cent was recorded in the period under review. The reasons for this slight decrease could be attributed to but not limited to the general election that was held in February/March 2023 and subsequent transition in government which might have likely affected economic activities.
“Also changes in global economic conditions such as the slowdown in global demand or decline in commodity prices which might have negatively impacted non-oil export performance,” he said.
He said that 224 different products were exported in the period under review ranging from manufactured, semi-processed, solid minerals to agricultural commodities.
“A total number of 859 companies participated in the non-oil export trade in the period under review. It is worthy to note that Indorama-Eleme Fertiliser and Chemical Ltd took the lead with 282,553,286.15 million dollars in value terms while Dangote Fertiliser Ltd recorded the second-highest value of 199,871,962.29 dollars,” he said.
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