Nigeria exports $2.5b products in first half of 2023-NEPC
The Executive Director of the Nigeria Export Promotion Council (NEPC) say that Nigeria exported over 3.9 million metric tonnes of product worth $2.539 billion in the first half of 2023 as against the sum of $2.593 billion for the corresponding period of 2022.
The Executive Director of NEPC, Dr Ezra Yakusa in a statement in Abuja stated that a slight decrease of 0.09% was recorded in the period under review.
He stated that reasons for the slight decrease could be attributed to the recent general election held in February and March 2023, transition in Government and changes in global economic conditions, such as slowdown in global demand or decline in commodity prices which might have negatively impacted non-oil export performance.
According to him, ” A total number of Two Hundred and Twenty-four (224) different products were exported in the period under review ranging from manufactured, semi-processed, solid minerals to agricultural commodities”.
“Of 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.
“A total of 1,058,791.27 metric tonnes of products worth US$175.476 million which amounts to 6.91% of the total export value were exported to 13 ECOWAS Countries,” Dr Yakusak explained.
The NEPC boss also said 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 Fertilizer and Chemical Limited took the lead with US$282,553,286.15 million in value terms while Dangote Fertilizer Limited recorded the second-highest value of US$199,871,962.29 respectively,” he stated.
Dr Yakusak explained that 18 Exit Points were used in the period under review which included seaports, international airports and land borders.
“The seaports however accounted for over 90 per cent of the total non-oil export in the period under review.
“One hundred 110 Countries, spread among five continents of the world, imported Nigerian products during the period under review and the top 5 importing countries are; Vietnam, China, Japan, Brazil and India,” he added.
