Nigeria’s non-oil exports between January and September 2021 stood at N1.8tn according to data from the National Bureau of Statistics (NBS).
The data revealed that non-oil exports accounted for 13.7 per cent of the N13.1tn exports recorded as at September 30, 2021.
This means that within five-year period, non-oil exports rose by N942bn or 205 per cent from 2017.
A breakdown of non-oil exports showed that in the first quarter of 2017, non-oil exports stood at N170.6bn, but fell to N161.57bn in the second quarter and dropped further to N126.47bn in the third quarter of the year.
These brought the value of non-oil exports in the first nine months of 2017 to N458.64bn, which is 4.7 per cent of total exports made during the reviewed period.
In Q1 2018, non-oil exports rose sharply to N577.6bn, but dropped to N218.4bn and N163.3bn in Q2 and Q3 respectively, bringing total non-oil exports within the reviewed period to N959.3bn.
In 2019, the value of non-oil exports in Q1 stood at N604.4bn; it dropped to N277.6bn in Q2. only to jump to N1.08tn in Q3.
Non-oil exports stood at N611.2bn in Q1 2020, N352.9bn in Q2, and N214.6bn in Q3, bringing the total non-oil exports within the period under review to N1.2tn.
The NBS stated that in Q1 2021, non-oil exports stood at N455.4bn; it rose to N462.8bn in Q2 2021 and jumped to N546.2bn in Q3.
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