Business

NEPC reports $2.7bn in non-oil exports half year 2024

Published

2 years ago

August 29, 2024

442 Views

The Nigerian Export Promotion Council reported that non-oil exports generated $2.7bn in the first half of 2024, representing a 6.26 per cent increase from the $2.5bn recorded during the same period in 2023.

This was disclosed by the Executive Director/Chief Executive of NEPC, Nonye Ayeni, during a presentation of the progress report on non-oil export performance for H1 2024 in Abuja on Wednesday.

Ayeni stated that the total volume of exports during the review period was 3.834m metric tonnes, with 211 products exported, ranging from agricultural commodities to products from extractive industries.

She noted that the performance indicates that Nigerian products are gradually diversifying from traditional raw agriculture exports to semi-processed and manufactured goods.

She attributed the increase in export value to the successful transition of government in May 2023 and the policy initiatives under President Bola Tinubu’s Renewed Hope Agenda. Additionally, Ayeni highlighted the impact of the NEPC’s “Operation Double Your Exports” initiative, which she said has positively influenced the sector’s performance.

“In just six months, we have seen tangible results from our concerted efforts to expand Nigeria’s non-oil export base.

“I am optimistic that with the several export intervention programmes and projects we have started and are ongoing, complemented by the NEPC flagship campaign programme, ‘Operation Double Your Exports.

‘The sector is positioned to contribute immensely to the country’s Gross Domestic Product, increase the country’s foreign exchange earnings and thereby ensure sustainable economic growth, which aligns with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, for job creation, poverty alleviation, among others,” Ayeni stated.

She also emphasised the council’s commitment to collaborating with stakeholders to stimulate export growth. Reflecting on her tenure since October 2023.

“When I assumed office in October 2023, I and my management team resolved to reposition the non-oil export sector towards global competitiveness,” she said.

Ayeni also discussed the growing prominence of several exportable products, such as fresh vegetables, citrus peel, and sorghum, which are increasingly in demand in global markets.

Business

Naira Exchange Rates Friday, 3 July 2026

Published

18 hours ago

July 3, 2026

OCHEFA

22 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 397 Sell ₦1,405

GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865

EURO (EUR) Buy ₦1, 580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦180 Sell ₦200

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460

CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,370.15

GREAT BRITISH POUND (GBP) ₦1,832.17

EURO (EUR) ₦1,568.28

SWISS FRANC (CHF) ₦1,1705.44

JAPANESE YEN (JPN) ₦8. 51

CHINESE YUAN (CNY) ₦201. 80

WEST AFRICAN CFA (XOF) ₦2.38

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,859. 98

SAUDI RIYAL (SAR) ₦364.91

SOUTH AFRICAN RAND (ZAR) ₦84. 32

Business

Issue: Cloning Nigerian Investment Promotion Commission (NIPC)

Published

2 days ago

July 2, 2026

OCHEFA

46 Views

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.

The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.

The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.

The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.

The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.

Current status

The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.

As the case is pending before the court, the allegations remain subject to judicial determination.