NEPC Urges Exporters to Leverage Trade Agreements for Non-Oil Growth

The Nigerian Export Promotion Council (NEPC) has called on exporters to take full advantage of regional and international trade agreements to accelerate the country’s non-oil expansion and reduce reliance on crude oil revenues. The council emphasized that tapping into opportunities provided by trade deals such as the African Continental Free Trade Area (AfCFTA) could position Nigeria as a dominant player in value-added exports while improving foreign exchange earnings.

NEPC Executive Director, Ezra Yakusak, speaking at a recent engagement with stakeholders, stressed that Nigeria’s economic stability depends on diversifying its exports and scaling up competitiveness in non-oil sectors like agriculture, manufacturing, services, and the creative industry. He explained that while crude oil still accounts for over 70 percent of foreign exchange inflows, global volatility in energy markets makes it imperative for Nigeria to strengthen its non-oil base. “We must deliberately harness trade opportunities available to us to grow non-oil exports. AfCFTA alone provides access to a market of over 1.3 billion people. Exporters need to see this as a chance to expand beyond traditional markets,” Yakusak said.

The NEPC boss noted that Nigeria has signed multiple trade and partnership agreements at continental and global levels, but exporters have often failed to take full advantage due to challenges such as low awareness, inadequate capacity, and weak infrastructure. He highlighted that the council is intensifying sensitization and providing technical assistance to businesses to help them meet international standards and unlock market access.

Nigeria’s non-oil exports have shown some growth in recent years, with agriculture and manufactured goods leading the charge. However, they remain far below potential, with exports largely dominated by raw materials instead of processed and value-added products. Yakusak stressed that the country must shift toward higher-value exports if it is to achieve sustainable growth. He urged agro-processors, textile producers, solid mineral exporters, and SMEs to pursue certifications, adopt modern packaging, and meet global best practices to compete effectively.

Stakeholders at the event also pointed to the need for stronger government support in tackling barriers such as high logistics costs, cumbersome port procedures, and inadequate access to financing. Exporters often face delays at ports, poor infrastructure, and bureaucratic bottlenecks that erode competitiveness. NEPC, in collaboration with relevant ministries and agencies, is working to streamline trade facilitation and improve export processes.

One of the key opportunities discussed was AfCFTA, which aims to create a single continental market for goods and services and promote free movement of business and investments. For Nigerian exporters, this agreement offers unprecedented access to African markets, but experts caution that only businesses that are competitive and compliant with standards will thrive. Yakusak encouraged exporters to build strategic partnerships, embrace innovation, and target sectors where Nigeria has comparative advantage.

Beyond Africa, Nigeria also stands to benefit from existing trade partnerships with the European Union, the United States under the African Growth and Opportunity Act (AGOA), and other bilateral arrangements. However, taking advantage of these requires meeting strict product quality and safety standards. NEPC has therefore launched training and support programs to guide exporters through compliance processes, including product testing, certification, and packaging.

Economists note that boosting non-oil exports could also help ease pressure on Nigeria’s currency, the naira, by diversifying foreign exchange inflows. With ongoing challenges in oil production due to theft, underinvestment, and global energy transition pressures, non-oil exports present a sustainable pathway for long-term stability. The push for diversification also aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritizes infrastructure development, industrialization, and job creation through non-oil growth.

The private sector has welcomed NEPC’s renewed focus on trade opportunities, noting that Nigerian entrepreneurs are increasingly eager to expand into regional and international markets. However, they emphasized that access to affordable financing remains a major bottleneck. Many small businesses lack the capital required to scale production to meet large export orders. Industry experts suggest that targeted intervention funds, guarantees, and partnerships with development finance institutions could help bridge this gap.

As part of its broader strategy, NEPC announced plans to intensify export promotion campaigns, facilitate trade fairs, and connect Nigerian businesses with buyers across Africa and beyond. The council is also exploring digital trade platforms to help SMEs showcase their products globally without heavy overhead costs.

While challenges remain, the message from NEPC is clear: Nigeria cannot afford to miss the opportunities provided by global trade agreements. By actively harnessing these deals, exporters can help drive the country’s diversification agenda, reduce overdependence on oil, and create millions of jobs across value chains.

As Yakusak concluded, “The future of Nigeria’s economy lies in non-oil exports. We have the resources, the skills, and the market access through trade agreements. What is needed now is for exporters to rise to the challenge and take advantage of these opportunities.”