Non-Oil Exports Hit $5.4 Billion in 2024 – NEPC Reports

The Nigerian Export Promotion Council (NEPC) said on Friday the country’s non-oil exports reached $5.4 billion in 2024.

This figure was $939 million or 20.79 percent higher than the $4.5 billion recorded in 2023.

The Executive Director of NEPC, Nonye Ayeni, disclosed this when she briefed the media on the sector’s performance in Abuja.

She noted that the rise in non-oil exports reflects Nigeria’s ongoing efforts to diversify its economy beyond crude oil.

The growth, according to her, was largely driven by increased export activities in agriculture, manufacturing, and solid minerals.

Notable contributors included cocoa seeds, cocoa butter, sesame seeds, cashew nuts, urea, and other manufactured goods.

Ayeni credited the rise to strategic collaborations with relevant agencies and institutions, saying despite global economic challenges, Nigeria’s non-oil sector has continued to expand.

She said: “Despite economic challenges and the global downturn, the Council, through collaborations with relevant agencies and institutions, has contributed to economic diversification, achieving an impressive non-oil export performance of $5.456bn in 2024. This represents a significant 20.79 percent increase compared to the $4.517bn recorded in 2023.”

The NEPC chief attributed the achievement to the active diversification of the economy with a focus on agriculture, solid minerals, and manufacturing.