As Nigeria continues to diversify its economy away from crude oil, the non-oil export sector is showing strong signs of progress. In the first quarter of 2025, the country recorded non-oil exports worth $1.791 billion—an impressive 24.75% increase compared to the same period in 2024. This growth highlights the effectiveness of ongoing efforts to expand […]
For decades, Nigeria’s economy has been closely tied to the fluctuations of global oil markets. Since the discovery of oil in 1956, it has been the main source of revenue and dominated exports. However, as the world moves towards greener energy and oil prices become increasingly volatile, Nigeria is shifting its economic focus. Recent data […]
The Federal Government has reiterated its commitment to boosting Nigeria’s non-oil exports by addressing the high cost of freight charges, which has been a major challenge for exporters. Nura Abba Rimi, Permanent Secretary Federal Ministry of Industry, Trade and Investment, speaking at a one-day stakeholders’ forum held in Abuja, highlighted the government’s ongoing efforts to […]
President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to positioning Nigeria as a leading exporter of agricultural products by 2025. Speaking at the ‘Road to South-South National Convergence for Renewed Hope Agenda’ event in Abuja, Tinubu outlined the strategic blueprint that places the agriculture-rich South-South region at the heart of the nation’s economic revival. […]
NIGERIA struggles to feed its citizens despite the vast arable land estimated at 36.9 million hectares by Statista or 40.8 per cent of its soil by online resource site Microtrends, fertile soil, and a favourable climate. This gives it the potential to become a net food exporter globally, thereby harnessing foreign exchange, but it lags. […]
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