The Nigerian Export Promotion Council revealed that non-oil exports generated $2.7bn in the first half of 2024, marking a 6.26% increase from the previous year. Executive Director Nonye Ayeni highlighted the shift from raw agriculture exports to more processed goods and attributed the growth to government transitions and policy initiatives.
Ayeni praised the success of the NEPC’s “Operation Double Your Exports” initiative and expressed optimism for the sector’s future contributions to the economy. She emphasized collaboration with stakeholders and outlined plans to enhance exportable products and services.
In another development, the Central Bank of Nigeria’s Inflation Expectations Survey for July 2024 indicated businesses were less pessimistic than households about current inflation trends. Both groups foresee rising inflation due to energy costs, exchange rates, and transportation expenses.
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