Services Exports Key to Nigeria’s Post-Oil Economy—NEPC

By Adedapo Adesanya 

Nigeria must deepen its services exports and reduce its dependence on crude oil to build a more sustainable and diversified economy, the Nigerian Export Promotion Council (NEPC) has said.

The Director of the Trade Information Department at NEPC, Mr Ndubueze Okeke, said the services sector offers significant opportunities for Nigeria to earn foreign exchange and strengthen its position in regional and international trade.

Speaking on Thursday at a sensitisation programme on Phase Two of the National Single Window (NSW) in Port Harcourt, Rivers State, Mr Okeke stressed that Nigeria could not continue to rely on crude oil as its major source of export earnings, urging the country to pay greater attention to services and other non-oil sectors.

He cited the United Arab Emirates (UAE) as an example of an oil-producing economy that had diversified into services, particularly through Dubai’s emergence as a major global business and commercial destination.

“I can tell you that countries that had crude oil and still have crude oil, UAE, so many of them, can’t even depend on it. They left the crude oil long, long time ago. If you go to Dubai, nobody is talking about crude oil. It is all about services, which is part of export,” he said.

Mr Okeke questioned whether Nigerians would want crude oil reserves to be exhausted within the next five years, noting that the country must develop alternative sources of export revenue that can sustain its economy beyond oil.

He described the export component of the National Single Window as critical to achieving this ambition, adding that the platform would simplify export documentation, improve transparency and reduce the cost of doing business.

The programme, organised by NEPC in collaboration with the NSW Secretariat and other trade agencies, brought together exporters, regulators, freight forwarders and other stakeholders in the trade facilitation ecosystem.

Mr Okeke said Nigeria must embrace the National Single Window, an initiative he had heard about for more than 20 years, commending the Federal Government for moving the project towards implementation.

He explained that while the first phase addressed import-related processes, the second phase would focus on export regulatory permits and documentation, making it easier for Nigerian businesses to access international markets.

According to him, the platform would also improve the competitiveness of Made-in-Nigeria products across global markets and within the African Continental Free Trade Area (AfCFTA).

Mr Okeke disclosed that Nigeria recorded $6.1 billion in non-oil export earnings last year, with more than 281 products shipped to different destination markets.

He, however, identified packaging, labelling and documentation procedures as some of the challenges limiting the competitiveness of Nigerian products in international markets.

“Our product is one of the best anywhere in the world. The problem has to do with packaging, the problem has to do with labelling, the problem has to do with documentation processes and procedures. In the export business, anywhere you go, it is one-size-fits-all. Nobody will lower the standard for you,” he said.

Earlier, the Deputy Director of NEPC, Mrs Ngozi Ibe, said expanding Nigeria’s non-oil exports required not only increased production but also an efficient, transparent and globally competitive trade environment.

She described the National Single Window as a centralised electronic platform for submitting and processing regulatory documentation relating to import, export and transit activities.

“A competitive export economy is built not only on what a country produces, but also on how efficiently and effectively it moves its products from the local markets to the global space,” Mr Ibe said.

Also speaking, the Head of the National Single Window, Mr Tola Fakolade, said the project was inaugurated by President Bola Tinubu on April 16, 2024, while its first phase, covering import regulatory permits, was launched on March 27, 2026.

He said the second phase would extend the platform to export regulatory permits, urging exporters to adopt the system and provide feedback to improve its operations.