Nigeria’s Total Exports Soar to 2.7 Billion Dollars in First Half of 2024
The Nigerian Export Promotion Council (NEPC) has released figures showing that the country’s total exports for the first half of 2024 stands at a significant 2.7 billion dollars. This marks a 2.6 per cent increase in the value of exports compared to the same period in 2023.
According to NEPC Executive Director, Nonye Ayeni, who presented the figures at a meeting in Abuja, 211 products were exported during the period under review. Notably, cocoa, beans, urea, and sesame topped the list of exported commodities.
Ayeni also revealed that Nigeria’s top three export destinations for the period are Malaysia, the Netherlands, and Brazil. Interestingly, the nation’s agricultural sector has experienced a remarkable surge, with exports of agricultural goods increasing by 123 per cent over the fourth quarter of 2023 and 270 per cent compared to the first quarter of that year.
Breaking down the agricultural goods exports, the National Bureau of Statistics (NBS) found that Asia was the dominant destination, accounting for ₦572 billion, followed by Europe with ₦366 billion. Sesamum seeds led the way, valuing at ₦247.75 billion, while superior quality cocoa beans garnered ₦231 billion, and standard quality cocoa beans brought in ₦140 billion.
These positive trends signal a promising outlook for Nigeria’s export industry, with the country solidifying its position as a significant player on the global stage.
