Non- Oil Exports $2.539b in First Half of 2023 — Yakusak

By Linda Ike

The Nigerian Export Promotion Council (NEPC) said non-oil export generated 2.539 billion dollars in the first half of 2023.

The Executive Director of NEPC, Ezra Yakusak stated this in Abuja on Monday at the presentation of the first half-year progress report on the non-oil export performance for 2023.

He said the sector exported 3,944,344.17 metric tonnes of products worth $2.539bn between January and June, 2023, against the sum of $2.593bn exported in 2022,

He attributed the change to the 2023 general elections and also changes in global economic conditions.

He said, “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,’’ NEPC chief.

Yakusak also disclosed that the top 15 products exported in the first half-year of 2023, urea, cocoa beans, cashew nut/kernels, sesame seed and soya beans/meal were top on the list respectively.

He decried that African trade is still very low, suggesting that a core chain facilities for exports should be established in Nigeria.