Non-oil exports fetch $4.8b, contribute 15% to GDP
By Jeph Ajobaju, Chief Copy Editor
Non-oil exports generated more than $4.82 billion in 2022, with prospects for better yields this year as economic hardship turns the attention of citizens to productive initiatives apart from oil, the historical liquid gold.
The Nigerian Export Promotion Council (NEPC) disclosed the sum and expressed commitment to ensure Nigeria surpasses the 2022 benchmark in 2023.
Ekiti NEPC Coordinator Iyabode Abe said the Council under the leadership of Chief Executive Officer Yakussak Ezra “will continue to promote the development of non-oil export in orderr to safeguard the nation’s economy.”
Abe spoke in Ado Ekiti at a technical and training session on product packaging for exporters and Small and Medium Enterprises (SMEs).
“Over $4.82 billion was generated from the non-oil export business in the year 2022 as a result of the Council’s effort in promoting non-oil export which jacked up the Gross Domestic Product [GDP] economy of the country by 15 per cent.”
The event was organised by NEPC where it donated two packaging machines to be domiciled at the Technical Incubation Centre in Ado Ekiti for use by SMEs.
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Promoting export through training schemes
Abe announced the NEPC would step up efforts to promote non-oil export through training programmes “that will expose SMEs to some technicalities of export business for them to have clear competitive edge in the global market.”
She described the number of SMEs as one of the greatest assets of the country in its economic diversification agenda, per The PUNCH.
And she counselled entrepreneurs on product packaging and labelling, which she described as an essential driver of marketing made-in-Nigeria products in the export market.
Ekiti Governor Adviser on Trade and Investment Omotayo Adeola lauded the NEPC for the training and donation.
“The Biodun Oyebanji-led state government is very keen on providing support and guidance to our SMEs to help them upscale and increase production,” she said.