Nigeria’s non-oil exports have generated $1.791 billion in the first quarter of 2025, marking a significant 24.75% increase compared to the same period in 2024.
This growth reflects the country’s efforts to diversify its foreign exchange base away from oil dependency. According to the Nigerian Export Promotion Council (NEPC), the surge in non-oil exports is attributed to increased economic activity in key sectors, including Agriculture, Manufacturing, and Solid Minerals.
The NEPC’s Director-General, Nonye Ayeni, stated that “The significant growth reflects the resilience and diversification of Nigeria’s export sector beyond crude oil.” Cocoa and its derivatives led the charge, accounting for 45.02% of total non-oil exports. Other key products include Urea/Fertilizer, Cashew Nuts, Sesame Seeds, Gold Dore, Aluminium Ingots, Copper Ingots, Soybeans/meal, and Rubber.
The export volume also saw a remarkable increase, rising to 2.416 million metric tonnes, a 243.44% jump from 1.937 million metric tonnes reported in the first quarter of 2024. Nigeria’s non-oil exports to ECOWAS member states totaled $63.060 million in Q1 2025, a 223.10% increase from Q1 2024. This growth highlights the importance of regional trade and the potential of the African Continental Free Trade Area (Afcfta) in driving intra-African trade.
Ayeni emphasized the importance of Afcfta in solidifying Nigeria’s position as Africa’s leading trade hub. The NEPC is optimistic about the future of Nigeria’s non-oil exports, citing the council’s efforts to boost export volumes and values. The growth in non-oil exports is a positive indicator of Nigeria’s economic diversification efforts.
The NEPC’s efforts to promote non-oil exports are yielding positive results, with the council working to enhance Nigeria’s export potential. Nigeria’s non-oil export performance in the first quarter of 2025 demonstrates the country’s potential to become a major player in the global trade landscape.