The Nigerian Export Promotion Council (NEPC) reported a 20.79% growth in non-oil exports to $5.456 billion in 2024, surpassing the $4.5 billion recorded in 2023. Nonye Ayeni, Executive Director of NEPC, announced this at a media briefing on the sector’s performance in Abuja on Friday.
She emphasised that the growth shows Nigeria’s continued efforts to diversify its economy away from crude oil. Increased export activity in agriculture, manufacturing, and solid minerals contributed significantly to the expansion. Contributors included cocoa seeds, cocoa butter, sesame seeds, cashew nuts, urea, and other manufactured items.
Ayeni attributed the development to strategic collaborations with key agencies and organisations, noting that despite global economic issues, Nigeria’s non-oil economy has continued to grow.
“Despite economic challenges and the global slump, the Council has helped to economic diversification by collaborating with key agencies and organisations, resulting in an exceptional non-oil export performance of $5.456 billion in 2024. This marks a remarkable 20.79 percent gain over the $4.517 billion reported in 2023,” she explained.
Ayeni ascribed the feat to the active diversification of the economy, which focusses on agriculture, solid minerals, and manufacturing. She also stated that it demonstrates the good impact of the federal government’s efforts to boost trade through effective fiscal and financial policy execution.
