Nigeria’s non-oil exports rose considerably within the first quarter (Q1) of 2025, reaching a complete worth of $1.791 billion, the Information Company of Nigeria (NAN) reviews.
That is based on the Nigeria Export Promotion Council (NEPC).
The Director-Basic of the NEPC, Dr. Nonye Ayeni, made this identified on Monday throughout the presentation of the First Quarter Progress Report on Non-Oil Export Efficiency for 2025, held in Abuja.
Ayeni said that the determine represents a 24.75% enhance in comparison with the $1.436 billion recorded in the identical interval of 2024, signaling robust development momentum in Nigeria’s efforts to diversify its financial system away from oil dependency.
“Within the first quarter of 2025, a complete of 197 distinct merchandise had been exported,” Ayeni stated.
“This displays a rise in comparison with 162 merchandise recorded in Q1 2024. These merchandise vary from manufactured and semi-processed items to industrial extracts and agricultural commodities.”
Surge in Export Quantity
The amount of non-oil exports additionally noticed exceptional development, climbing to 2.416 million metric tonnes, a 243.44% soar from 1.937 million metric tonnes reported within the first quarter of 2024.
This surge, based on Ayeni, demonstrates that stakeholders are more and more leveraging alternatives inside the non-oil export sector.
Prime Export Merchandise and Firms
The NEPC boss highlighted that cocoa and its derivatives — together with cocoa butter, cocoa liquor, and cocoa cake — topped the listing of exported merchandise in Q1 2025.
Different key merchandise included:
- Urea/Fertiliser
- Cashew Nuts
- Sesame Seeds
- Gold Dore
- Aluminium Ingots
- Copper Ingots
- Soya Beans/Meal
- Rubber
Based mostly on knowledge from the Pre-shipment Inspection Brokers (PIAs), cocoa beans alone accounted for 45.02% of complete non-oil exports, adopted by urea/fertiliser at 19.32%, and cashew nuts at 5.81%.
On the company entrance, Indorama Eleme Fertiliser and Chemical Ltd and Starlink International and Superb Ltd maintained their positions as the highest exporters, with export shares of 12.07% and 10.00% respectively.
Their robust efficiency was attributed to the numerous export values of fertiliser and cocoa merchandise.
Regional Export Efficiency
Ayeni disclosed that 10 member nations of the Financial Group of West African States (ECOWAS) imported Nigerian non-oil merchandise value $63.060 million in Q1 2025, accounting for 3.52% of the whole export worth.
This represented a powerful 223.10% enhance in comparison with the $19.517 million recorded in Q1 2024.
As well as, exports to different African nations stood at $32.732 million, making up 1.83% of complete non-oil exports for the quarter.
Progress and Strategic Alignment
Ayeni recalled that in January, the NEPC reported the very best non-oil export worth in its 49-year historical past, with a year-on-year enhance of 20.77% — from $4.517 billion in 2023 to $5.456 billion in 2024.
She emphasised that the council, in collaboration with the Federal Ministry of Business, Commerce and Funding and different stakeholders, is intensifying efforts to spice up non-oil export volumes and values as a part of President Bola Tinubu’s Renewed Hope Agenda.
Ayeni said that stakeholders are more and more benefiting from the huge potential and alternatives inherent within the non-oil sector.
She additionally stated the Council’s technique aligns with the nationwide agenda to diversify Nigeria’s financial system, cut back over-reliance on oil revenues, and construct a extra sustainable, export-driven financial system.
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