The Nigerian Export Promotion Council (NEPC) said that non-oil exports in the first half of 2023 declined marginally to $2.539 billion from $2.593 billion in the same period last year.
Yakusak Ezra, the Executive Director of NEPC, disclosed this on Monday in Abuja at the presentation of the first half-year progress report on the non-oil export performance for 2023.
He blamed the decline on the conduct of the general elections and the changes in global economic conditions.
The NEPC boss explained that the sector recorded a dip in export value in the first half-year of 2023 due to the general elections and changes in global economic conditions.
“From these figures, it is apparent that a slight decrease of 0.09 per cent was recorded in the period under review.
“The reasons for this slight decrease could be attributed to but not limited to the general election that was held in February/March 2023 and subsequent transition in government, which might have likely affected economic activities.
“Also changes in global economic conditions such as a slowdown in global demand or decline in commodity prices which might have negatively impacted non-oil export performance,’’ he stated.
