Ghana earns $57.9m in NTEs to Nigeria 2021

Non-Traditional Exports (NTEs) earnings from the country to Nigeria for the year 2021 were $57.9 million, the Director of Market Development and Market Promotion at the Ghana Export Promotion Authority (GEPA), Mrs Agnes Gifty Adjei-Sam, has said.

The key products included olive oil and fractions, cocoa powder and margarine.

Mrs Adjei-Sam indicated that the NTEs earning for 2020 to Nigeria however was $31,255,689 and that was a reflection of the general global economic slow down at the time.

She was speaking in Accra on Monday at a media briefing on the Ghana Nigeria Business and Investment Conference due to be held in Atlanta, USA in October, this year by the Ghana Nigeria Business Council (GNBC).

NTEs include products other than cocoa beans, logs and lumber, unprocessed gold and other minerals and some electricity. They include horticultural products, fish and seafood, prepared food and beverages, handicrafts and other manufactured items.

The NTE sector is categorised into three main sub-sectors including Agriculture, Processed/Semi-Processed, and Industrial Art and Craft sub-sectors

Mrs Adjei-Sam added that Ghana’s NTEs to Nigeria amounted to $60,620, 400 in 2019; $69.7 million in 2018 and $68.5 million in 2017.

She was optimistic that  the opportunities presented by the African Continental Free Trade Agreement and the ongoing interventions being provided by GEPA and other institutions would greatly boost trade between the two countries.

On products and their attendant value in 2021, the Director of Market Development and Market Promotion at the GEPA said for instance “olive oil and fractions were $13.4 million; cocoa powder, $11.2million; margarine, $5million; paints and varnishes, $4.7 million; animal oil, 4.4 million and articles for printing $3.1 million.”

For 2020, Mrs Adjei-Sam said “cocoa powder got $9.5 million; paints and varnishes, $ 3.7 million; matchet, $3.6million; ethyl alcohol, $2.1 million; fatty acids, $1.6million and articles for printing, $742,889 million.”

Speaking on the conference, Mrs Adjei-Sam said it would be an opportune event for businesses in the two countries to secure more markets for their products. 

She further enjoined businesses in the two countries to take advantage of the Africa Continental Free Trade Area Agreement to increase trade amongst them and subsequently boost intra Africa trade.

Calling for an extension of registration deadline for the conference to enable more people partake, Mrs Adjei-Sam said the conference would afford individuals and businesses the opportunity to access new potentials as well as connect with others for investments and businesses which will in turn boost the economies of Ghana and Nigeria.

BY ABIGAIL ARTHUR

Show More
Back to top button