The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) and stakeholders in the sector have urged the federal government to tap into the $10.34 trillion global non-oil exports to drive sustainable economic development.
Speaking at the 3rd National Conference on Non-oil Export organised by the Nigerian Export Promotion Council (NEPC) themed; ‘Promoting Non-oil Export for National Economic Growth,’ stakeholders emphasised the urgency for Nigeria to put action behind words by making significant investments in the non-oil export sector.
Dele Oye, national president of NACCIMA noted that with non-oil exports earning a mere N1.8 trillion out of the world total of $10.34 trillion in global trade, Nigeria stands at a pivotal point of need to embark on strategic changes which would significantly enhance its export potential.
According to Oye, the disparity between Nigeria’s non-oil export earnings and that of other countries, the world over, is stark.
“For instance, Brazil, which has a population only slightly larger than Nigeria’s, generated $6.3 billion in a single month from just three commodities; sugar, soybeans, and maize.
“In 2019, the Netherlands generated $721 billion in agricultural products export alone. The United Arab Emirates, despite being the 6th World oil-rich nation (with 113 billion barrels in reserve) surpassed $380 billion in revenue from oil foreign trade.
“Norway in 2022 earned over $18 billion from non-oil exports showcasing the strength and importance of diversification using the sector.
“For Africa, in 2022, Cote d’Ivoire cornered $4.8 billion, Ghana tapped $1.8 billion, while Nigeria attracted a distant $669,988 from Cocoa beans export,” he noted.
Oye further stated that in contrast, Nigeria’s total non-oil export earnings for the first nine months of 2024, amounted to just $2.4 billion, showcasing a pressing need for intervention.
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“When comparing Nigeria to other African nations, like Kenya and Ghana, the disparity becomes even clearer.
“Kenya has successfully leveraged its agricultural sector to diversify exports, earning considerable revenue from tea, horticulture, and coffee,” he noted.
“Ghana, primarily known for cocoa, has also started adding value to its agricultural products, leading to increased earnings. For Nigeria to emulate these successes, it must address key challenges and undertake meaningful reforms,” he advised.
The event provided a platform for discussing actionable strategies to bolster Nigeria’s non-oil export sector and the need for increased value addition in agricultural products for export was emphasised.
Stakeholders said that most times Nigeria exports raw materials at low prices, which undermines its potential, highlighting strategies such as establishing processing facilities for crops to elevate their market value, similar to what countries like Kenya have done with flowers and fruits.
“Value-added products are not only competitive in the international marketplace, they also attract premium prices,” they noted.
Jumoke Oduwole, minister of Industry, Trade and Investment, highlighted the need to establish commodity boards, noting that it would help streamline production, set quality standards, promote local goods, and manage pricing strategies to optimise profitability for farmers and exporters alike.
“This is in addition to jobs that such will create, apart from assurance on the quality of product from known sources and ease of traceability,” Oduwole said.
The forum also identified access to credit remains a barrier for many farmers and exporters in Nigeria, adding that the establishment of special funds or partnerships with financial institutions to facilitate loans for agricultural investment can empower stakeholders in the sector.
“This is essential for the acquisition of modern equipment, acquiring technology, and adopting best practices,” It added.
The conference listed improved infrastructure as fundamental to boosting export capabilities, stating that investments in transportation, logistics, and storage facilities, particularly in ports and rural areas, will reduce post-harvest losses and ensure that products reach international markets promptly.
It further noted that developing the skills of farmers and exporters is vital, organising regular training sessions focused on best practices in farming, processing, and marketing of products will equip stakeholders to meet international standards and enhance competitiveness.
“As Nigeria moves forward, the call to action emanating from the NEPC Conference is clear.
“By investing in value addition, establishing commodity boards, enhancing access to financing, developing infrastructure, and building capacity, the government can transform the non-oil export landscape of the country.
“By following examples set by successful African nations, Nigeria can unlock its agricultural potential, significantly enhancing its export proceeds and ultimately fostering economic growth and development,” Oye said.
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