Nigeria’s Agricultural Exports and Manufactured Goods Mark Significant Surge in Q3 2024
In a major boost to the country’s export sector, the Nigeria Customs Service (NCS) Lilypond Export Command, Lagos, has reported a remarkable increase in the export of agricultural produce and manufactured goods in the third quarter of 2024. According to the command’s Area Controller, Ajibola Odusanya, the significant surge brings the total export value to a staggering $937 million.
The remarkable increase, Odusanya attributed, is a direct result of the consolidation of all export seats into the command, resulting in a 407% increase from $184 million collected in the second quarter of the year to $937 million in the third quarter of 2024. September alone saw the command process 3,363 export containers, valued at $202 million, with agricultural commodities including sesame seeds and hibiscus flowers contributing a significant $93.7 million to the total, followed by manufactured goods at $65 million.
The NCS also reported a significant surge in the tonnage of exported goods, with a 368% increase from 86,783.93 metric tons to 405,979.72 metric tons. The Nigerian Export Supervision Scheme (NESS) also recorded a 733% growth, climbing from N640 billion to N5.3 trillion. Additionally, the command collected N1.45 billion as Nigerian Export Supervision Scheme from all export activities in September and N88 million in duties on exports of previously imported goods.
The primary benefit of the consolidation, Odusanya emphasized, was the elimination of bureaucratic bottlenecks that previously hindered smooth export processes. The centralization of export operations has allowed for faster processing times for export documentation, improved compliance with NCS guidelines and regulations, and a more transparent and traceable export value chain.
The impressive increase in export processing capacity, improved tracking, and proper documentation and enforcement of customs regulations post-consolidation have all contributed to the significant surge in export figures. With this development, Nigeria’s export sector is poised for even greater growth and success.
