The Federal Government earned a total of N1.08 trillion ($676.67 million) as proceeds from processing solid minerals and locally manufactured goods for export through Nigerian ports last year obtained from the Nigeria Customs Service (NCS) solid minerals worth $335.86 million and manufactured goods valued at $340.99 million were processed for export in 2024.
Some of the solid minerals are lithium ore, aluminium ore, iron ore, manganese, zinc and others. Also, some of manufactured goods exported in 2024 are foods and beverages, empty bottles, solid and extractive minerals among others.
According to the National Bureau of Statistics (NBS), Nigeria’s 2024 exports saw a significant increase, with the first quarter recording a 195.47 per cent rise compared to the previous year, noting that major export destinations included France, Spain, Netherlands, India, and the United States.
Non-oil exports also showed a substantial increase, particularly in agricultural products and manufactured goods.
The Area Controller of Lilypond Export Command (LEXC), Comptroller Ajibola Odusanya, attributed the impressive performance to the enhanced efficiency and effective enforcement of Customs regulations, stressing that NCS focused on trade facilitation had yielded significant gains, leading to faster processing times for export documentation, improved compliance with NCS guidelines, higher revenue collection and a more transparent export value chain.
According to him, “various goods such as plants & machinery and personal effects were exported in 162 20 feet and 40 feet containers, contributing $5.5 million to export revenue.”
Also, the Comptroller General of Customs, Adewale Adeniyi noted that the country’s export trade performance was impressive, with the total CIF value rising significantly to ₦136.65 trillion in 2024 from ₦42.77 trillion in 2023, marking a 219.5 per cent increase.
While the number of export transactions remained relatively stable at 38,199 compared to 38,294 in 2023 witnessed a substantial increase in export volume, processing 12.35 billion kilogrammes in 2024 compared to 3.70 billion kilograms in 2023.
He explained: “This 234 per cent increase in export mass, coupled with the higher value, indicates a robust growth of export trade and suggests increasing competitiveness of Nigerian products in the international market.
“The total trade value handled by the Service in 2024 amounted to ₦196.94 trillion, compared to ₦70.50 trillion in 2023, representing a 179.3 per cent increase.
This substantial growth in trade value, achieved with fewer but more valuable transactions, is evident of the increasing sophistication of Nigeria’s international trade and the effectiveness of our trade facilitation measures.
“In line with our pledge to adopt global best practices in trade facilitation, improve operational excellence, and enhance security, I am pleased to report significant progress in implementing these commitments.
“The Service successfully implemented various measures to enhance operational efficiency through modern procedures enabled by the new NCS Act.”
