President Bola Tinubu said Nigeria’s non-oil exports grew by 21 per cent last year, while more than 1,000 small and medium-sized enterprises (SMEs) have been certified for export as part of efforts to diversify the economy away from oil and expand business opportunities.
The president, who disclosed this on Friday in his Democracy Day address, also stated that the National Agricultural Development Fund is deploying 10,000 tractors over five years to support the agricultural sector.
|
|
“Across the country, infrastructure projects are connecting producers to markets and creating opportunities for enterprise and employment,” he said.
Nigeria’s non-oil exports recorded a remarkable jump last year, supported by rising global demand for commodities like cocoa, urea/fertiliser and cashew as well as government trade initiatives and regional trade deals.
|
|
|
|---|
The African Continental Free Trade Area provided an additional boost to non-exports in 2025 as it opened up market access and availed tariff relief to exporters.
Nigeria exported 281 different non-oil products during the year, with the Netherlands, Brazil, India, Belgium and the United States emerging as the top destinations, according to the Nigerian Export Promotion Council.
The president said investor confidence has returned since the introduction of economic reforms in 2023, with investments growing in agriculture, manufacturing, technology, mining, transportation and the creative industries.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
“Since 2023, our reforms have restored stability and credibility to economic management,” he noted.
According to him, federation revenues have increased, providing states and local governments with more resources for infrastructure, education, healthcare and security.
He noted that infrastructure projects across the country are helping connect producers to markets and create opportunities for enterprise and employment.
READ ALSO: Tinubu speaks on power sector challenges, pledges reforms
He said the next phase of his administration’s agenda would focus on accelerating growth and ensuring that the benefits of government policies are felt across the country.
“We are moving from uncertainty to stability. The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community, and every region,” he said.
The president reiterated that democracy should translate into economic opportunities for citizens, particularly farmers, entrepreneurs and workers.
“Democracy must be felt in the quality of people’s lives, in opportunities for youth, in prosperous farmers, successful entrepreneurs, and the dignity of our workers,” he noted.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
