Nigeria’s push toward export diversification showed measurable progress in 2025, as non-oil exports stood at N12.36 trillion, up from N9.09 trillion in 2024.
Data from the National Bureau of Statistics (NBS) shows that agricultural products contributed 41.04% of total non-oil exports, highlighting the strong role of agriculture in Nigeria’s export performance, with exports driven primarily by cocoa, which accounted for 24.61% of total non-oil exports.
According to the Nigerian Export Promotion Council (NEPC), Nigeria’s non-oil export volume also rose to 8.02 million metric tonnes in 2025, up from 7.29 million metric tonnes in 2024, representing a 10% increase.
This indicates that the growth in exports was driven not only by higher prices, but also by larger quantities shipped to international markets.
Despite progress, Nigeria’s agricultural export basket remains heavily concentrated in a few commodities, particularly cocoa, leaving earnings exposed to global price cycles.
Although NBS now classifies the data as “major traded agricultural products,” from Q2 2025, the compositions are still largely export driven such as cocoa, sesame, and cashew, meaning the data continues to serve as a strong proxy for Nigeria’s agricultural exports.
Below are Nigeria’s top traded agricultural products in 2025, largely driven by exports.
Superior quality cocoa beans remained Nigeria’s largest single agricultural export, contributing the highest share of non-oil export earnings.
- Export value: N1.57 trillion
- Share of non-oil exports: 12.67%
- Year-on-year growth: -8.52%
Exports of superior quality cocoa declined slightly in 2025, possibly due to limited supply of premium beans or global price adjustments.
Superior quality cocoa beans were mainly exported to the Netherlands, Belgium, Malaysia, Indonesia, and Canada, with Europe continuing to dominate as the primary market.
What you should know
- Cocoa and cashew dominate: Together, they make up a large share of non-oil export earnings. Premium cocoa may be declining slightly, but standard quality cocoa is in strong demand internationally.
- Value-added exports are growing but small: Cocoa butter and shelled cashews are bringing in higher revenue per unit, signaling that local processing is starting to pay off, though there’s still room to grow.
- Volume matters as much as price: The 10% increase in export tonnage shows that growth isn’t just about higher global prices—it’s also about shipping more.
- Risks remain: Heavy reliance on cocoa and a few other commodities means that earnings are vulnerable to global price fluctuations. Supply and production constraints for some crops like soya beans also highlight the need for stronger domestic agricultural capacity.
- Opportunities: Expanding processed exports and diversifying the agricultural basket can help Nigeria capture more value, stabilize earnings, and reduce exposure to commodity cycles.
