The Nigerian Export Promotion Council (NEPC) has disclosed that the country recorded about $2.59 billion in foreign exchange from non-oil export within first Six (6) months of year 2022.
Speaking on Wednesday in Abuja at the First National Forum of States Committee on export promotion, the Executive Director of NEPC, Dr. Ezra Yakusak said the non-oil export performance of the country has been on the onward movement within the last one year.
He explained that notwithstanding the impact of COVID-19 on the economy in 2019 and 2020, “It will interest you to know that during the first half of 2022, the national non-oil export recorded the highest performance in recent time, with the total value of $2.59 billion, representing 62.37% compared with $1.60 billion recorded during same period in 2021.
“Permit me to inform you that in pursuant to the aggressive economic diversification agenda of the Federal Government, early this year, NEPC launched a national non-oil export stimulation initiative tagged the Export4Survival.
“The campaign was developed to boost foreign exchange earnings through the non-oil export sector while preparing Nigeria for an economy that would not be dependant on crude oil export for its survival.
“To this end, we are partnering with the National Orientation Agency (NOA), to carry this campaign to the grassroot. As a critical stakeholder, we enjoin the Chairman of SCEP in each State to also join in propagating this campaign in their respective State”.
Yakusak stated that NEPC had developed a grass root export promotion strategy known as One State One Product (OSOP) Programme. “The concept was developed to ensure that each State of the federation including the Federal Capital Territory (FCT) focuses on at least one product to develop for export.
“It cannot be over emphasized that the success of OSOP largely depends on the functionality of the State Committee on Export Promotion (SCEP) in each State and FCT. The SCEP is therefore expected to act as a major driver for the implementation of the One-State One-Product (OSOP) in their respective States.
“Distinguished ladies and gentlemen, within the last one year, NEPC has come up with some programmes and activities aimed at increasing the performance of non-oil export in the country.
“Recently, the Council launched the Export Trade House (ETH) in Cairo, Egypt and Nairobi in Kenya as well as the first NEXPORTRADE House in Lome, Togo, as part of efforts to creating sustainable market access for Nigeria’s Products.
“Just last month, the Council led a delegation of stakeholders to the United Kingdom to consult and engage stakeholders on how best to redress the incidences of export reject of Nigeria’s products at the international market. All these achievements would not have been possible without the partnership of critical stakeholders.
“Regrettably however, as important as the SCEP is to non-oil export development in the country, the potential of this important committee is not being fully utilized.
“It is on this note that we convened this forum to discuss identified challenges bedeviling SCEP operations in each State and to jointly proffer workable solutions” he stated.
The ED urged partipants to come up with workable recommendations at the end of the event, saying “we are committed to reinvigorating the SCEP and ensure its optimal performance for growth of the non-oil export sector”.