43.9 C
Wednesday 23 June 2021
HomeAfricaNigeria: Non-oil export hit US$2.97b

Nigeria: Non-oil export hit US$2.97b

Nigeria realised US$2.970 billion from non-oil export in 2013, from US$2.561 in 2012, representing an increase of 15.9%, according to the Nigerian Export Promotion  Council (NEPC).

The local media Thursday quoted NEPC Chief Executive Officer Olusegun Awolowo as saying although Nigeria’s export is dominated by oil, there has been a steady growth in non-oil export in recent time.

He said non-oil export potentials had not been fully exploited despite endowed natural resources, solid minerals and agriculture.

The NEPC boss identified some of the challenges militating against achieving high non-oil export to include poor infrastructure, energy, poor finances, skills and capacity.

“The non-oil export challenges in Nigeria are infrastructural deficiency, poor standardisation of products, high cost of production, falsification of documents, weak linkages to chain supply, unwholesome trade practices, and exports dominated by primary products, inability to meet export orders, restricted access to credit and trademark,” he said.


Please enter your comment!
Please enter your name here

- Advertisement -