By Meriit Ibe
The Nigerian Export Promotion Council (NEPC) has introduced the “Double Our Non-oil Export (DONE) Initiative intended to double the non-oil exports.
The program is aligned with the Industrial Revitalization Agenda and the Renewed Hope Agenda for job creation, poverty alleviation and economic development.
The Executive Director of the NEPC, Nonye Ayeni, who made the disclosure during a special dinner in recognition of the outstanding contributions of non oil stakeholders to Nigeria’s non-oil export sector, noted that the program was intended to provide a unique opportunity for strategic engagement with the exporters and other key players in the industry.
“It is also intended to ventilate ideas and re-strategize the various challenges and obstacles encountered in the process of carrying out export business, to enhance the sector as a viable source of foreign exchange for the country.”
Ayeni noted that one of the flagship activities in the DONE initiative is the Export 35 Redefined, which is focusing on 20 priority products and 10 top exporters for each of the products and 5 international markets for each.
To her, the idea is to give full attention, support and resources to the 20 products, 10 exporters and 5 markets targeted to double exports.
The NEPC boss also emphasised that in 2023, Nigeria’s non-oil exports
reached an impressive 6.685 million metric tonnes valued at US$4.518bn, adding that the non-oil products exported encompassed a diverse range of 273 distinct products.
“The figure reflects a notable increase of approximately 28.04%, compared to the preceding year, spanning a spectrum from manufactured and semi-processed goods to industrial extracts and raw agricultural commodities.
She applauded the stakeholders for their efforts which she said has enhanced foreign exchange inflow and played a crucial role in stabilizing the value of the Naira and promoting sustainable economic growth.
“It’s a testament to your hard work and commitment to excellence. Your success stories inspire countless other entrepreneurs and businesses to explore the vast opportunities within the non-oil sector. You can be categorized as forerunners of a new era of economic prosperity, one that is less dependent on oil and more focused on sustainable and inclusive growth.”
She reaffirmed the continuous commitment of the council to supporting your endeavours through various initiatives especially in the areas of advocacy to address constraints and challenges militating against the smooth and seamless operation of your business.
On her part, the Minister of Industry Trade and Investment, Dr Doris Uzoka-Anite noted that the stakeholder engagement with the exporters was to reward and encourage them to do much more.
“The exporters are exporting because we have even created an enabling environment.
“Our goal is to see how to expand their exports, give them the push necessary and watch them.
“We signed trade agreement with more countries to open up more market access for the exporters.
This is to enable the exporters access countries they have not been accessing, for example Uk, America, China and India markets.”
She noted that the ministry was doing its best to increase access to financing and encouraging the bank of industry to continue to do more credit for export manufacturing.
Emphasising that industrialization is key to exporting, the Minister encouraged manufacturers and exporters to process their raw materials before they export because that is how they actually earn much more.
She noted that the ministry would continue to support industrialization, export, trade and investment and would continue to make incentives available.
“A number of them have access to tax credit while some are manufacturing from free zones so they don’t even pay tax while we keep reducing taxes for some of them negotiating and reducing tariff for them with their exporting country and even give single interest rate from BOI and Nexiem bank