Treasury rakes in $2.5b revenue, hopes to surpass 2023 target
By Jeph Ajobaju, Chief Copy Editor
Abuja generated $2.5 billion revenue from non-oil exports in the first half of the year ended June (H1 2023), according to the latest figures supplied by the Nigerian Export Promotion Council (NEPC).
NEPC Executive Director Ezra Yakusak said based on the performance, the council hopes to surpass its 2023 revenue target of $4.8 billion in the 2023 fiscal year.
Yakusak, represented by Imo NEPC Coordinator Anthony Ajuruchi, spoke at a workshop in Owerri, where he urged successful exporters to share their experiences with new exporters so as to increase the number of players in non-oil export business and grow the economy.
“This workshop is aimed at building the business morale of new exporters when they learn from existing, successful exporters so that we can increase the number of exporters in the state and Nigeria by extension,” he said.
“The more people venture into the export business, the more revenue for the state and the more growth of Nigeria’s Gross Domestic Product (GDP), and hopefully we will surpass the gains of the previous year.”
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Surmounting export trade challenges
Ivyl Foods Chief Executive Officer Lilian Moses-Okoro said she has exported her products to Canada, United States, and the United Kingdom, per Daily Post.
She advised new exporters not to relent in their efforts to grow their products and to register their businesses with the NEPC in order to facilitate improving their brands and gain access to business intervention opportunities.
Adeola Ilechukwu of Cannif Trust cited data from the Nigeria Catfish Association in 2021 which shows the country was exporting 100 metric tonnes of catfish annually which have begun to decline gradually.
She urged exporters to seek ways to surmount challenges, stressing the future of the economy depends largely on non-oil exports.
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