Business is booming.

Urea/fertilizer tops as Nigeria records $4.480b from non-oil export

Nneka Nwogwugwu

Urea/Fertilizer has topped the list of most exported non-oil products with 32.87% in 2022, the Nigeria
Export Promotion Council (NEPC) has said.

The Council also informed that Nigeria has recorded non-oil export earnings of US$ 4.820 billion in 2022.

The Executive Director CEO Nigeria Export Promotion Council Ezra Yakusak said this while speaking
during the presentation of progress report of the non-oil export performance for the year 2022 in Abuja,
last Friday.

According to him, these figures represent data collated from the various Pre-shipment Inspection agents
appointed by the Federal Government under the Pre-shipment Inspection Act, Cap P25 LFN 2004.

Specifically, Yakusak said the significant and highly impressive result with a non-oil export earnings
represented an increase of 39.91% over 2021.

“I am glad to inform you that this result is the highest value ever achieved since the establishment of the
Nigerian Export Promotion Council 47 years ago.

“About 214 different products ranging from manufactured, semi-processed, solid minerals to raw
agricultural products were exported in 2022. Of these products exported, Urea/Fertilizer topped the list
with 32.87%.

“ The emergence of Urea/Fertilizer as the highest exported product in 2022 can be attributed to the
Russia-Ukraine war which created an avenue for Nigeria’s Urea/Fertilizer to thrive. It is worthy to note
that our products were exported to 122 countries with Brazil recording the highest import value of
12.27%,” he said.

Exporters participated are Indorama-Eleme Fertilizer and Chemical Limited taking the lead with 23.25%
31 issuing banks participated with Zenith Bank PLC processing the highest NXP values. 19 Exit Points
were used with Apapa Port recording the highest tonnage; the month of December recorded the highest
export value of 10.37%.

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