<< Back             Poser >> Nigeria’s non-oil exports to EU lag at 10% despite $21.87bn trade— NEPC Business By Progress Godfrey  The Nigerian Export promotion Council (NEPC) has urged agro-exporters to tap the European Union’s over 400 million-strong consumer market, warning that non-oil exports account for only 10 percent of total trade with the bloc despite a $21.87 billion trade volume in 2024.   Executive Director and CEO of NEPC, Mrs Nonye Ayeni, made the disclosure during the 8th series of NEPC webinars yesterday, themed, “EU Regulations for Importation of Nigeria’s Agri-food Products”, adding that the figures represented a significant opportunity to expand Nigeria’s non-oil export footprint. According to her the EU remains one of Nigeria’s most strategic trade partners, accounting for about 26 percent of Nigeria’s total trade with key exports including cocoa, cocoa products, oilseeds, agricultural produce, fish, seafood, rubber, leather, and wood. She stated: “Available statistics show that Nigeria’s total export to the EU in 2024 stood at $21.87 billion, while EU export to Nigeria was $20.2 billion. Non-oil export represents about just 10% of Nigeria’s total export to the EU. “This represents an opportunity for us to further grow our market share in the EU so it becomes more significant again, as Nigeria experiences increase in non-oil exports, and considering that Nigeria is endowed with numerous agricultural products and commodities. So this is an opportunity to improve the bilateral trade between Nigeria and the EU. “As you are aware, global trade today is no longer driven by price and availability, it’s increasingly governed by standards, regulations, traceability requirements and sustainable principles. Nigeria is abundantly blessed with agricultural resources and a wide range of exportable agri-food products including cocoa, sesame, hibiscus, ginger, and spices. “When value is added to these commodities instead of exporting them raw, we’re able to earn a premium price in the global market and also be able to create jobs, domestic industrialization, reduce poverty and then contribute immensely to the national economic diversification.” Vanguard	Naira depreciates to N1,362/$ in parallel market The Naira yesterday depreciated to N1,362 per dollar from N1,357 in the parallel market on Monday. West Africa must modernise agriculture for food security – Experts Experts have called for the urgent modernisation of agriculture across West Africa, stressing the need to move beyond increased production and focus on transforming agricultural value chains to ensure food security and improved nutrition amid growing climate and population pressures. Climate change threatens Nigeria’s food systems as farmers count losses ….experts call for urgent, sustainable measures to mitigate impacts By Gabriel Ewepu ABUJA — Nigeria’s food system is facing growing threats from climate change as erratic rainfall, prolonged dry spells, flooding, rising temperatures, pests and diseases disrupt farming activities, slash yields and leave farmers counting losses running into billions of Naira. The situation, according to […] World Bank: Fuel price to slow Nigeria’s poverty reduction •Says rising pre-election spending may derail reforms •Raises Nigeria’s 2026 growth forecast to 4.3% •Projects 15.7% inflation rate for 2026 •44% of firms in Nigeria, Kenya adopt AI, power constraints threaten gains By Babajide Komolafe, Economy Editor The World Bank has warned that elevated fuel prices could slow Nigeria’s poverty reduction efforts despite an expected […] Government releases GH¢9.1b covering six quarters of DACF to MMDAs – Ayariga Mr Mahama Ayariga, the Minister of Local Government, Chieftaincy and Religious Affairs, has announced government's release of GH¢9.1 billion, covering six quarters of the District Assemblies Common Fund (DACF) to Metropolitan, Municipal, and District Assemblies (MMDAs) nationwide. Cedi was worst African currency in quarter 2, 2026 – World Bank According to the World Bank, the escalation of the conflict in the Middle East initially exerted broad-based pressure on African currencies.