Nigeria’s non-oil exports rose significantly in the first quarter (Q1) of 2025, reaching a total value of $1.791 billion, the News Agency of Nigeria (NAN) reports.
This is according to the Nigeria Export Promotion Council (NEPC).
The Director-General of the NEPC, Dr. Nonye Ayeni, made this known on Monday during the presentation of the First Quarter Progress Report on Non-Oil Export Performance for 2025, held in Abuja.
Ayeni stated that the figure represents a 24.75% increase compared to the $1.436 billion recorded in the same period of 2024, signaling strong growth momentum in Nigeria’s efforts to diversify its economy away from oil dependency.
“In the first quarter of 2025, a total of 197 distinct products were exported,” Ayeni said.
“This reflects an increase compared to 162 products recorded in Q1 2024. These products range from manufactured and semi-processed goods to industrial extracts and agricultural commodities.”
Surge in Export Volume
The volume of non-oil exports also saw remarkable growth, climbing to 2.416 million metric tonnes, a 243.44% jump from 1.937 million metric tonnes reported in the first quarter of 2024.
This surge, according to Ayeni, demonstrates that stakeholders are increasingly leveraging opportunities within the non-oil export sector.
Top Export Products and Companies
The NEPC boss highlighted that cocoa and its derivatives — including cocoa butter, cocoa liquor, and cocoa cake — topped the list of exported products in Q1 2025.
Other key products included:
- Urea/Fertiliser
- Cashew Nuts
- Sesame Seeds
- Gold Dore
- Aluminium Ingots
- Copper Ingots
- Soya Beans/Meal
- Rubber
Based on data from the Pre-shipment Inspection Agents (PIAs), cocoa beans alone accounted for 45.02% of total non-oil exports, followed by urea/fertiliser at 19.32%, and cashew nuts at 5.81%.
On the corporate front, Indorama Eleme Fertiliser and Chemical Ltd and Starlink Global and Ideal Ltd maintained their positions as the top exporters, with export shares of 12.07% and 10.00% respectively.
Their strong performance was attributed to the significant export values of fertiliser and cocoa products.
Regional Export Performance
Ayeni disclosed that 10 member countries of the Economic Community of West African States (ECOWAS) imported Nigerian non-oil products worth $63.060 million in Q1 2025, accounting for 3.52% of the total export value.
This represented an impressive 223.10% increase compared to the $19.517 million recorded in Q1 2024.
In addition, exports to other African countries stood at $32.732 million, making up 1.83% of total non-oil exports for the quarter.
Progress and Strategic Alignment
Ayeni recalled that in January, the NEPC reported the highest non-oil export value in its 49-year history, with a year-on-year increase of 20.77% — from $4.517 billion in 2023 to $5.456 billion in 2024.
She emphasized that the council, in collaboration with the Federal Ministry of Industry, Trade and Investment and other stakeholders, is intensifying efforts to boost non-oil export volumes and values as part of President Bola Tinubu’s Renewed Hope Agenda.
Ayeni stated that stakeholders are increasingly taking advantage of the vast potential and opportunities inherent in the non-oil sector.
She also said the Council’s strategy aligns with the national agenda to diversify Nigeria’s economy, reduce over-reliance on oil revenues, and build a more sustainable, export-driven economy.
