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Diversification: Nigeria rakes in $2.7bn from non-oil exports in the first half of 2024

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Diversification: Nigeria rakes in $2.7bn from non-oil exports in the first half of 2024

Diversification: Nigeria rakes in $2.7bn from non-oil exports in the first half of 2024

 

 

Nonye Ayeni, executive director and chief executive officer of the Nigerian Export Promotion Council (NEPC) says Nigeria recorded total receipts of $2.7bn from non-oil exports in the first half of 2024.

Ayeni made the disclosure in Abuja on Wednesday August 28, 2024 while addressing the media at the council’s presentation of its progress report on the non-oil sector performance for the first half of 2024.

 

The figure, she noted, represented a 6.26 percent increase compared to the $2.53 billion earned in the same period in 2023.

 

Nonye Ayeni attributed the growth to “the successful transition of government in May 2023 which brought about stability in the government, increase in demand for Made-in-Nigeria products and initiatives embarked on at the council…to reawaken the consciousness of Nigerians on the need to imbibe an export culture.”

 

Diversification: Nigeria rakes in $2.7bn from non-oil exports in the first half of 2024

She said the growth in non-oil export receipts underlines the ongoing efforts to grow the non-oil sector and diversify the economy from the mono-cultural dependence on oil in alignment with the Industrial Revitalization Plan of the Honourable Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite and the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu (GCFR).
Speaking on some of the initiatives introduced by the council, Ayeni noted that the council has a new mantra “Operation Double Your Exports” with the core objective of “significantly increasing our non-oil exports to improve our foreign exchange earnings and for economic growth and job creation.”
She also cited other initiatives like “Export 35 Redefined” through which the Council has selected the top 20 agricultural products to focus on right from the farm gate through the entire value chain to market access with NEPC CONNECT, the council’s result-driven customer service team facilitating the interaction between exporters and the Council.

Breaking down the product profile and market reach, Ayeni said a total of 211 different products were exported during this period with cocoa beans, urea/fertiliser and sesame seeds as the top 3 products with a contribution of 23.18 percent, 13.78 percent and 11.04 percent of the total non-oil exports for the period. She noted that this is indicative of “a shift from traditional agricultural commodities to more semi-processed and manufactured goods.”
The total volume of exported products stood at 3,834,333.83 metric tonnes thus reaffirming, in her words “the widely held assertion that the non-oil sector holds the key to the revitalization of the country’s economy.”
Nigeria’s non-oil exports were exported to 122 countries spread across Africa, the Americas, Asia, Europe, and Oceania regions. The top 3 destinations were Netherlands, Malaysia, and Brazil based on value with Ghana emerging the only African country in the top 15 global importers from Nigeria.

To reach global markets, Nigerian exporters utilized 19 exit points made up of Seaports, International Airports, and Land Borders. 95.08% of the total non-oil exports were routed through seaports with the South-West and South-South accounting for over 95 percent of the total non-oil exports during the period in review.
Highlighting the contribution of Nigerian manufacturing concerns, Ayeni noted in her address that the top 3 companies by contribution are Indorama-Eleme Fertiliser and Chemical Limited which led with $198.8 million in exports; Starlink Global and Ideal Limited with $184.7 million, and Outspan Nigeria Limited with $177.75 million.
She also singled out other notable contributors to include Dangote Fertiliser Limited and Metal Recycling Industries Limited.
Thirty two banks contributed to non-oil export transactions in H1 2024. Zenith Bank Plc dominated in terms of financial support to the non-oil export sector. The bank handled 43.09 per cent of the total Non-Oil Export Proceeds (NXPs). It was followed by First Bank Nigeria Plc and Fidelity Bank which handled 6.56 per cent and 6.38 percent of Non-Oil Export Proceeds (NXPs) respectively.
Concluding her address, Nonye Ayeni called on Nigerian banks to enhance exporters’ capacity and access to international markets by leveraging the opportunities in the non-oil export sector, particularly in light of the African Continental Free Trade Area (AfCFTA).

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ADVAN Wins Global Honour at WFA Awards for “Project Freedom” Initiative

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ADVAN Earns Global Recognition As WFA President’s Award Winner For “Project Freedom

 

 

The Advertisers Association of Nigeria (ADVAN) has been recognised on the global stage as a recipient of the prestigious WFA President’s Award, presented by the World Federation of Advertisers during its Global Marketer Week in Stockholm. The recognition places ADVAN among a select group of leading industry associations worldwide acknowledged for driving meaningful impact in marketing and society.

 

The WFA President’s Awards, established in 2010, celebrate national industry associations whose initiatives advance the marketer’s agenda and contribute to positive change. This year’s honours were awarded following a rigorous selection process involving 38 submissions from associations across the WFA’s global network, with winners chosen for their measurable impact and potential for replication across markets.

 

ADVAN’s recognition comes through its advocacy initiative, Project Freedom, a bold and strategic effort focused on addressing the challenges of stifling, non–data-driven regulations affecting businesses in Nigeria and across Africa. The initiative underscores the importance of evidence-based policymaking while championing the constitutional right to freedom of commerce.

 

Through Project Freedom, ADVAN has taken a proactive leadership role in engaging key stakeholders and shaping conversations around fair, balanced, and transparent regulation. The initiative reflects a shift toward constructive dialogue and collaboration, ensuring that regulatory frameworks support innovation, protect consumer interests, and enable sustainable business growth.

 

By earning this global recognition, ADVAN reinforces the growing influence of African marketing institutions in shaping international discourse. Its work highlights how local advocacy, when rooted in data and guided by clear principles, can deliver impact not just within national borders but across the global marketing ecosystem.

 

The award also affirms ADVAN’s commitment to strengthening self-regulation within the industry, fostering accountability, and promoting standards that align with global best practices while remaining relevant to local realities.

 

As the marketing landscape continues to evolve, ADVAN’s recognition by the World Federation of Advertisers signals a strong endorsement of its leadership and vision. It positions the association as a key voice in advancing responsible marketing, advocating for enabling policies, and ensuring that businesses can operate in an environment that supports both innovation and economic freedom.

 

ADVAN Wins Global Honour at WFA Awards for “Project Freedom” Initiative

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PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

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PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

 

To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.

 

UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.

 

In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.

 

Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.

PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.

 

Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.

 

Thank you.

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

 

 

 

Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”

 

Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.

 

The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.

 

This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.

 

Speaking on the collaboration, the Laffmattazz team stated:

 

“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”

 

As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.

 

With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.

 

 

About Laffmattazz

 

Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.

 

About First Bank of Nigeria Limited

 

First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.

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