Nigeria’s non-oil exports rose to $1.79bn in Q1 2025, up 24.75%

BY MOTOLANI OSENI

Nigeria’s non-oil export earnings surged to $1.791 billion in the first quarter of 2025, marking a 24.75 per cent increase over the $1.436 billion recorded in the same period last year, according to the Nigeria Export Promotion Council (NEPC).

Presenting the 2025 First Quarter Progress Report in Abuja, NEPC Director-General, Dr. Nonye Ayeni, said the growth reflects deepening investor interest and increased stakeholder participation in the country’s non-oil export space. She noted that 197 distinct products were exported during the quarter, up from 162 in Q1 2024. These included manufactured goods, agricultural commodities, and industrial extracts.

Non-oil export volume also recorded significant growth, rising to 2.416 million metric tonnes from 1.937 million metric tonnes — a 243.44 per cent increase. Dr. Ayeni described the performance as evidence that exporters are increasingly capitalising on the diverse opportunities outside the oil sector.

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Cocoa and its derivatives, including cocoa butter, liquor, and cake, led the product category, accounting for 45.02 per cent of total non-oil exports. This was followed by urea/fertiliser at 19.32 per cent and cashew nuts at 5.81 per cent. Other major products included sesame seeds, gold dore, aluminium and copper ingots, soya meal, and rubber.

Leading the list of exporters were Indorama Eleme Fertiliser and Chemical Ltd and Starlink Global and Ideal Ltd, which posted 12.07 per cent and 10 per cent export shares respectively, driven by fertiliser and cocoa-based products.

Dr. Ayeni also reported improved regional performance, with exports to 10 ECOWAS countries valued at $63.060 million—an increase of 223.10 per cent compared to $19.517 million in Q1 2024. Exports to other African countries totalled $32.732 million, representing 1.83 per cent of total non-oil export value.

Recalling Nigeria’s record-setting non-oil export value of $5.456 billion in 2024—a 20.77 per cent rise from 2023—Ayeni said the NEPC is sustaining momentum through strategic collaboration with the Federal Ministry of Industry, Trade and Investment. She affirmed that the Council’s current efforts align with the Tinubu administration’s Renewed Hope Agenda to diversify the economy and reduce reliance on oil revenue.