Driving Export-led Economic Diversification Agenda

Since Nigeria's economic fortunes have long been heavily dependent on crude oil, the country faces significant risks from volatile global prices, production disruptions and external shocks. However, President Bola Tinubu's administration is pushing for a renewed economic approach through the Renewed Hope Agenda, with a focus on non-oil exports as a means to build a more resilient economy.

The Nigerian Export Promotion Council (NEPC) has been instrumental in this effort, implementing various initiatives to support the growth of the export sector.

Beyond simply promoting Nigerian products in foreign markets, NEPC's interventions span supporting women-led businesses, training thousands of prospective exporters, developing agricultural clusters, securing international certifications, opening markets and addressing export rejections. By building the infrastructure around the export economy, NEPC aims to diversify Nigeria's production, increase its sales to the world, create jobs along the value chain and bring more foreign exchange into the economy.

The challenges of economic diversification in Nigeria go beyond merely increasing agricultural commodity production. The Council's mandate, established in 1976, is to transform the country's vast productive capacity into internationally competitive goods and services that can generate sustainable foreign exchange. This transition involves moving Nigeria from a primary exporter of raw materials to one that can process, certify, package and market goods for international consumers.

Under the leadership of Nonye Ayeni, who was appointed as Executive Director/Chief Executive of NEPC in October 2023, the Council has taken significant steps to strengthen the export sector. In the past year alone, NEPC has conducted 1,983 capacity-building programs involving 215,156 participants across Nigeria, highlighting the importance of equipping entrepreneurs with the necessary knowledge and skills for successful exporting.