Vice President Kashim Shettima has announced plans by the Nigerian government to harness non-oil export opportunities to spur economic growth. He revealed that Nigeria recorded a positive trade balance of N6.5 trillion in the second quarter of 2024, with exports contributing 60.89% of the total trade worth N19.42 trillion, marking a modest increase from the first quarter.
Speaking at the 3rd Non-Oil Export Conference in Abuja, represented by Deputy Chief of Staff Ibrahim Hadeija, Shettima emphasized the importance of implementing Nigeria’s Trade Policy to boost the sector’s GDP contribution and global trade share.
Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, highlighted the economic volatility due to fluctuating oil prices and noted that the African Continental Free Trade Area (AfCFTA) presents an opportunity for Nigeria to diversify exports, including agriculture and solid minerals.
NEPC Executive Director Nonye Ayeni announced the successful test-run of Domestic Export Warehouses, facilitating smoother market access for top agricultural products. The council aims to streamline the entire export value chain, collaborating with agencies to enhance product quality and align with global standards.
