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The Govt Director/CEO of the Nigerian Export Promotion Council, Ezra Yukusak, on Monday, mentioned Nigeria’s non-oil sector recorded a slight lower within the worth of exports to $2.54bn representing a 0.09 per cent dip within the first half of 2023.
Yukusak made the assertion throughout a presentation on the non-oil export sector for the primary half of 2023.
He defined that the recorded determine was a slight lower as towards the sum of $2.593bn within the corresponding interval of 2022.
He mentioned, “I want to inform you immediately that the sector recorded a slight dip within the worth of exports within the first half of 2023. The non-oil export returns from varied pre-shipment inspection brokers indicated that 3, 94 million metric tons of merchandise value $2.54bn have been exported within the first half of the 12 months from January to June as towards the sum of $2.593bn to the corresponding interval of 2022. From these figures, it’s obvious {that a} slight lower of 0.09% was recorded within the interval below evaluation.”
The NEPC boss blamed the transition to a brand new authorities and adjustments in world market situations as causes for the slight dip.
He mentioned, “The explanation for this slight lower may very well be attributed to the 2023 common election that was held in February 2023 and subsequent transition to a brand new authorities which could have largely affected financial actions.
“The second cause is the adjustments in world financial situations, resembling a slowdown in world demand or decline in productive costs, which can have negatively impacted non-oil export efficiency.”
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