Nigeria's Non-Oil Exports Drive Economic Growth and Job Creation

Nigeria is strategically positioning itself as a central player in intra-African trade by focusing on non-oil exports. The country's efforts, including ratifying the AfCFTA protocol, establishing a central coordinating committee, and leveraging digital tools, aim to boost export competitiveness.

The World Bank projects significant growth in Nigeria's consumer spending by 2024, emphasizing the country's potential in the global market. The Federal Ministry of Industry, Trade and Investment has achieved milestones to strengthen export competitiveness, while the Nigerian Export Promotion Council (NEPC) estimates that every $1 billion increase in non-oil exports could create 40,000 to 70,000 jobs.

Sterling Bank is supporting export financing through the Sterling Bank Non-Oil Export Academy, providing practical training and advisory services to enhance export capabilities.