By Vivian Emoni

The Nigeria Export Promotion Council (NEPC) says the country’s non-oil products exported in the first quarter of 2025 were valued at 1.791 billion dollars.

Dr Nonye Ayeni, Director-General of the NEPC said this on Monday in Abuja while presenting a First Quarter Progress Report on the Non-Oil Export Performance for the year 2025.

Ayeni said that the figure showed a 24.75 per cent increase above the 1.436 billion dollars reported in the first quarter of 2024.

She said that the volume also increased to 2.416 million metric tonnes which was an increase of 243.44 per cent from 1.937 million metric tons recorded in the first quarter of 2024.

“In the first quarter of 2025, a total of 197 distinct products were exported.

“This figure reflects an increase when compared to the 162 products recorded in the first quarter of 2024.

“These products range from manufactured and semi-processed goods to industrial extracts and agricultural commodities,” she said.

Ayeni recalled that in January, the NEPC reported the highest value of non-oil export since 49 years of its establishment.

According to her, this is with a year-on-year increase of 20.77 per cent from 4.517 billion dollars in 2023 to 5.456 billion dollars in 2024.

She said that out of the top 20 leading export companies, Indorama Eleme Fertiliser and Chemical Ltd and Starlink Global and Ideal Ltd, maintained their position as first and second.

She said that the two companies recorded 12.07 per cent and 10.00 per cent respectively.

According to her, this is attributed to their notable export values of fertiliser and cocoa products.

The director-general said that of the top-20 products exported in the first quarter of 2025, cocoa and its derivatives including cocoa butter, cocoa liquor, cocoa cake came first.

Ayeni said that Urea, Cashew Nut, Sesame Seed, Gold Dore, Cocoa Butter, Aluminium Ingots, Copper Ingot, Soya Beans/Meal, Rubber were the top of the list.

According to her, this is based on information by Pre-shipment Inspection Agents (PIAs).

She said that the top commodity in terms of total non-oil export, accounting for 45.02 per cent was cocoa beans.

She said that urea/fertiliser held second position at 19.32 per cent while cashew nuts came third with 5.81 per cent of the total exported products.

“The council is working with the Ministry of Industry, Trade and Investment and other stakeholders toward increasing the volume and value of non-oil exports.

The efforts are aligned with President Bola Tinubu’s Renewed Hope Agenda,” she said.

She also said that 10 member countries of ECOWAS actively engaged in importing Nigerian products throughout the First Quarter of 2025.

“These exports, amounting to 63.060 million dollars, constituted 3.52 per cent of the total export value.

“This is also a significant increase of 223.10 per cent when compared to the recorded figure of 19.517 million dollars for the first quarter of the year 2024.

“Nigeria also exported to other African countries in the first quarter of 2025.

“The value of these exports, totalling 32.732 million dollars, represented 1.83 per cent of the total export value,” Ayeni said.

She said that the non-oil exports were increasing, adding that all stakeholders are taking advantage of the potentials and opportunities inherent in the sector. (NAN)(www.nannews.ng)

Edited by Kadiri Abdulrahman

By Okeoghene Akubuike

The Bureau of Public Procurement (BPP) is set to inaugurate the Nigeria Procurement Certification Programme (NPCP) to standardise and professionalise procurement certification in Nigeria.

Dr Adebowale Adedokun, Director-General(D-G), BPP disclosed this at a news briefing in Abuja on Monday.

Adedokun said the programme, which was in partnership with the World Bank, would be inaugurated on Wednesday, April 30, in Abuja.

He said the programme would be a benchmark to hold procurement officers accountable and challenge the status quo in the knowledge and practice of public procurement in Nigeria.

Adedokun said the NPCP aligned with the Renewed Hope Agenda of President Bola Tinubu which emphasizes transparency, accountability and efficiency in governance.

“The National Procurement Certification Programme is a landmark initiative that marks a significant milestone in our nation’s procurement reform journey.

“The programme is a major achievement in our efforts towards professionalising and standardising procurement certification in Nigeria.

“This is a pioneer programme that will provide a centralised digital platform for training, assessment, and certification of public procurement professionals across the public and the private sector of our great nation.

“This programme is a testament to our commitment towards strengthening institutional capacity and ensuring value for money in public and private spending.

“It also reinforces our dedication to transparency, accountability, and excellence in the utilisation of government resources through the measure of public procurement.”

He noted that the procurement process had witnessed modernisation and transformation over the last 20 years, moving from its traditional approach to implementing sector-based procurement across all sectors.

The D-G said the programme would help build procurement officers who are experts in road construction, ICT-related projects, healthcare, as well as the implementation of the 2025 budget.

He said Nigeria would witness a major transformation in the field of public procurement.

According to him, the programme’s first phase will target Ministries Departments and Agencies (MDAs) with significant projects to help them gain skills and knowledge for faster budget implementation.

The D-G disclosed that 7,000 officers had already enrolled in the first tier of the programme cutting across the public and private sectors.

He said effective from Wednesday, the programme would admit graduates from Ahmadu Bello University, Zaria, Federal University of Technology, Owerri, University of Lagos, Joseph Tarka University Makurdi,  University of Benin, and  Abubakar Tafawa Balewa University, Bauchi.

According to him all the graduates would be given the first opportunity to undertake the online procurement capacity development programme.

He emphasised that the programme would not affect their daily work schedules as it has been designed to allow them to acquire and practice the knowledge while working.

He noted that the Office of the Head of Service had commenced reviewing appropriate government circulars that would strengthen the programme’s sustainability.

Adedokun said he believed the programme would be used as a tool for foreign direct investment, adding that requests had come in from some countries in sub-Saharan Africa to replicate the programme in their countries.

He thanked the World Bank and the Sustainable Procurement Environment and Social Standards Enhancement Project for their support and collaboration in making the initiative a reality. (NAN)(www.nannews.ng)

Edited by Yakubu Uba

By Ginika Okoye

Some capital market experts have called on the Securities and Exchange Commission (SEC) to create an inter-agency digital surveillance taskforce to address ponzi schemes related gaps in the Investment and Securities Act (ISA, 2025).

The experts spoke at a webinar organised by the Institute of Capital Market Studies (ICMS) Nasarawa State University, Keffi (NSUK) in collaboration with the Capital Market Academics of Nigeria (CMAN) on Sunday.

Prof. Uche Uwaleke, the Director of ICMS, NSUK, said that although ISA 2025 represented a significant step forward in modernising the country’s capital market, critical regulatory blind spots remained.

Uwaleke said the taskforce should include agencies like SEC, the Economic and Financial Crimes Commission, the Nigerian Communications Commission and the National Information Technology Development Agency.

He also suggested the establishment of a public verification portal to enable citizens check and confirm genuine investment platforms before investing.

The director said fraudulent schemes springing up often used informal channels/social media like WhatsApp, Instagram or unregistered digital apps and were difficult to monitor.

Uwaleke said the inter-agency collaboration would help stop the activities of those fraudulent schemes in real time.

“Prohibited scheme which is mentioned in S. 192 (page 182) of ISA 2025 is defined under Miscellaneous provisions (page 305) to include ‘ponzi or pyramid schemes.’

“These provisions seem to focus on ponzi schemes with physical presence.

“Springing up today are fraudulent schemes that often use informal channels/social media (e.g WhatsApp, Instagram or unregistered digital apps) and are difficult to monitor or stop in real time.

“Despite the ISA’s stronger penalties, (liability of the promoters on conviction to a fine of not less than N20 million or imprisonment to a term of 10 years or both (S.192).

“Lack of proactive detection mechanisms means investors may still be defrauded before SEC can act,” he said.

Augustine Agom, Professor of Law from the Ahmadu Bello University Zaria, said investors’ protection was key in the ISA.

Agom said the law had enhanced regulatory sanctions.

He advised stakeholders and investors in the market to be careful of some sharp practices.

According to him, it is time for investors to come to the market.

Also analysing the ISA, 2025, Adesina Bello, a Professor of Law, said the capital market would be better if the ISA, 2025 was fully complied with.

Bello who spoke on Registration, Regulations and Financial Market Infrastructure, said the law would empower SEC to ensure that stakeholders adhered to the provisions of the law.

Aliyu Sanusi, Professor of Economics at the Ahmadu Bello University Zaria, said the recognition of non-interest financial instruments and project-specific bonds would open the market to broader investment classes.

Sanusi said the robust penalty regime of the ISA significantly raised the cost of mismanagement or abuse, protecting market integrity.

“Issuance preconditions (IGR ratios, debt service caps) will improve subnational and agency borrowing discipline,” he said.

The Director-General of SEC, Dr Emomotimi Agama, had said the law would help to create a dynamic, inclusive and resilient capital market for the economy.

The News Agency of Nigeria (NAN) reports that many stakeholders and experts in the market gave insights into the ISA, 2025. (NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma