How COVID-19 impacts Nigeria’s non-oil exports

The COVID-19 pandemic has significantly disrupted global trade, and Nigeria's non-oil exports sector has not been immune to its effects. According to recent data from the National Bureau of Statistics, year-on-year growth in Nigeria's non-oil sector was slower by 0.93 percentage points in the first quarter of the year. As the pandemic continues to stifle international trade, Akin Laoye, Executive Director at FTN Cocoa Processors, joined CNBC Africa to shed light on how this crisis is affecting dynamics for Nigeria's non-oil exports. The interview delved into the challenges faced by exporters in Nigeria, the strategies being implemented to navigate through these turbulent times, and the prospects for the future of the country's non-oil exports. Laoye highlighted the resilience and adaptability of Nigerian exporters in the face of adversity, emphasizing the need for innovative solutions and collaborative efforts to overcome the current challenges. Nigeria's non-oil exports have been a key driver of economic growth in the country, and it is essential to address the issues arising from the pandemic to ensure the continued success of this sector. The interview provided valuable insights into the impact of COVID-19 on Nigeria's non-oil exports and the strategies being employed to mitigate its effects.