Market News

As Nigeria transits from an import dependent economy to a growing export economy, indication was that the country’s non-oil export has continue rise steady in recent times as the biggest export shipping company in Nigeria, Mediterranean Shipping Company (MSC) has confirmed that it handled over 40,000 Twenty-foot Equivalent Unit (TEUs) of export containers for Nigerian shippers, in the last 12 months. Deputy Managing Director of MSC, Jacob Losso, disclosed this at a training workshop for maritime journalists which it co-sponsored with the Nigeria Customs Service (NCS) in Lagos, last Friday.

According to him, the volume of goods handled by the company for the country in 2024 surpassed that of 2023. He disclosed that the exports, which are mostly agricultural produce including; Soya beans, Sesame seeds and Cocoa were shipped to different countries globally. He said, “The country is doing more exports at this time than it was last year even though the number is still relative to the import volume. “In the past 12 months, MSC has shipped over 40,000 TEUs. I don’t have the exact number off the top of my head, but I know it’s over 40,000. The majority of export items in Nigeria are agricultural commodities. So, you have a number of Soybeans being one. Sesame seed, you have Cocoa, and a number of other crops. “MSC is a global shipping company, so we are exporting all over the world. The majority is shared between all the continents.”