The Nigerian Export Promotion Council (NEPC) has announced that Nigeria’s trade volume in 2024 reached 7.2 metric tons, with a 20.7% increase in export value, totaling $5.45 billion.
Speaking at the Ministry of Industry, Trade, and Investment’s 2025 roadmap retreat in Abuja, NEPC Executive Director Dr. Nonye Ayeni emphasized the country’s export growth and expansion to 126 countries.
Ayeni reiterated NEPC’s commitment to diversifying the economy from oil dependence by supporting non-oil exports. She highlighted that the council organized 629 capacity-building programs in 2024 to enhance exporters’ competitiveness.
NEPC is also facilitating international market access by offering free certifications to exporters, helping them access niche markets globally. Additionally, the council is connecting MSMEs with experienced exporters to improve skills and competitiveness.
In Q1 2024, Nigeria’s total exports were valued at N19.17 trillion, marking a 51% increase from the previous quarter. Major export commodities included crude oil, liquefied natural gas, sesamum seeds, urea, and premium cocoa beans.
The country recorded a trade surplus of N6.52 trillion, signaling a recovery from previous deficits. France was Nigeria’s top export destination (11.09%), followed by Spain (10.56%), the Netherlands (8.85%), India (8.41%), and the U.S. (6.84%), with crude oil and gas dominating trade relations.
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