Nigeria’s non-oil export sector is making waves, with trade volume soaring to 7.2 million metric tons in 2024, marking a 20.7% rise in export value to $5.45 billion. This milestone underscores the country’s strides in diversifying its economy away from oil dependency.
According to Dr. Nonye Ayeni, Executive Director of the Nigerian Export Promotion Council (NEPC), this progress reflects Nigeria’s expanding presence in international markets, with exports reaching 126 countries. Ayeni disclosed these achievements during the Ministry of Industry, Trade, and Investment’s 2025 roadmap presentation in Abuja.
“In terms of value, we grew by 20.7% to $5.45 billion. This is a clear indication that Nigeria is making significant progress,” Ayeni said.
Building Export Capacity
To strengthen export competitiveness, NEPC organized 629 capacity-building programs in 2024, partnering with development organizations and agencies. These initiatives focused on improving exporters’ skills in good agricultural practices and preparing them for global markets.
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“We are dedicated to working with exporters, improving their capacity, and ensuring access to international certifications. This will help them secure niche markets globally,” Ayeni stated.
NEPC has also prioritized supporting Micro, Small, and Medium Enterprises (MSMEs) by connecting them with experienced exporters. Ayeni noted, “Our commitment will significantly increase the volume and value of Nigeria’s non-oil exports.”
Strategic Market Expansion
NEPC’s efforts have already unlocked access to new markets, boosting demand for Made-in-Nigeria products. Non-oil exports, such as cocoa, cashew, and sesame, contributed significantly to the record-breaking trade figures, driven by heightened global demand for Nigerian goods.
The Council’s roadmap for 2025 includes initiatives to mainstream Nigerian products into international value chains, enabling exporters to maximize global opportunities.
Customs Revenue Reforms
Meanwhile, the Nigerian Customs Service (NCS) has introduced a 4% Free On-Board (FOB) charge on imports to enhance revenue collection. This charge, mandated by the Nigeria Customs Service Act (2023), is calculated on the total value of imported goods, including transportation costs.
While stakeholders have raised concerns about overlapping fees, such as the 1% Comprehensive Import Supervision Scheme (CISS), the NCS is engaging the Federal Ministry of Finance to address these issues.
