By Yemi Olakitan
Nigeria took advantage of the Russia-Ukraine conflict to become the world’s top exporter of urea and fertilisers in 2022, earning over $4.820 billion from the 214 non-oil items it shipped outside in 2017.
Urea/fertilizers ranked first among Nigeria’s 214 non-oil exports with 32.87 percent. Indorama-Eleme Fertilizer and Chemical Limited led the 1,172 exporters of non-oil goods to 122 countries with a lead of 23.25%. Zenith Bank PLC processed the largest NXP values out of the 31 participating issuing banks, and 19 departure points were utilised, with Apapa Port having the most tonnage and the highest export value of 10.37% for the month of December.
The Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, provided the data at the weekend at a news conference in Abuja.
He said the $4.820 billion earned in 2022 was the largest value ever realised since the Council was founded 47 years ago.
For Your Home “This present outcome adds credibility to the fact that the numerous export intervention programs/projects established and carried out by the Council and other sister organisations during the year under review are gradually producing the anticipated result,” the author writes.
With 32.87%, fertilisers and urea came in first. The Russia-Ukraine war opened up a market for Nigeria’s urea and fertilisers, which is why they will overtake oil as the country’s top export in 2022. It is important to mention that 122 nations have received our items for export, with Brazil receiving the most amount (12.27%).
