Nigeria’s non-oil exports rose to N3.19 trillion in the first quarter of 2026, reinforcing the country’s gradual shift towards a more diversified export base amid stronger external trade performance.
Other News
Latest data from the National Bureau of Statistics (NBS) showed that non-oil exports stood at N3.19 trillion in Q1 2026, up from N3.15 trillion in the preceding quarter and N3.17 trillion in the corresponding period of 2025.
The latest performance comes as Nigeria recorded a merchandise trade surplus of N7.55 trillion in the first quarter of 2026, driven by higher exports and a significant reduction in imports.
What the data is saying
According to the NBS, non-oil exports maintained an upward trajectory despite global economic uncertainties and softer commodity prices in some international markets.
Key highlights from the data include:
- Q4 2025: N3.15 trillion.
- Q1 2025: N3.17 trillion.
- Total non-oil exports in 2025: N12.36 trillion.
The Q1 2026 figure represents:
- A 1.31% quarter-on-quarter increase from Q4 2025.
- A 0.60% year-on-year increase compared to Q1 2025.
The NBS data also showed that non-oil exports accounted for approximately 15.05% of Nigeria’s total exports during the quarter, highlighting the sector’s growing contribution to the country’s external trade.
The rise in non-oil exports complemented stronger crude oil shipments, helping to lift total exports to N21.17 trillion, while imports declined to N13.62 trillion.
Nigeria’s overall merchandise trade reached N34.79 trillion, with exports accounting for more than 60% of total trade.
Top non-oil export products in Q1 2026 included:
- Sesamum seeds: N153.78 billion
- Soya beans: N129.27 billion
- Cashew nuts: N119.76 billion
- Photovoltaic products: N85.79 billion
- Electrical products: N75.16 billion
Collectively, these five products generated approximately N563.76 billion in export earnings during the quarter, highlighting the growing contribution of agricultural and manufactured goods to Nigeria’s non-oil export sector.
What you should know
Successive administrations have sought to reduce Nigeria’s dependence on crude oil by promoting agricultural products, manufactured goods, solid minerals, and other value-added exports.
The growth in non-oil exports comes as policymakers intensify efforts to diversify foreign exchange earnings amid volatility in global oil markets.
Nigeria’s non-oil export basket includes agricultural commodities, manufactured products, fertilizers, chemicals, leather products, solid minerals, and processed foods destined for markets across Africa, Europe, Asia, and the Americas.
- The latest figures also coincide with improvements in Nigeria’s overall trade position. The NBS reported that the country’s merchandise trade surplus expanded by 340.88% to N7.55 trillion in Q1 2026 from N1.71 trillion in the previous quarter, driven by stronger exports and lower import spending, particularly on petroleum products.
- While crude oil remains the dominant source of export earnings, the steady expansion of non-oil exports reflects ongoing efforts to broaden the country’s economic base and reduce exposure to oil price shocks.
Government initiatives such as the African Continental Free Trade Area (AfCFTA), export expansion grants, and investments in transport and port infrastructure are also expected to support future growth in non-oil trade.
