Non-oil Exports Soar by 24.7%
Nigeria’s non-oil export sector recorded significant growth in the first quarter of 2025, with the total value hitting $1.791bn, the Nigerian Export Promotion Council (NEPC) disclosed on Monday.
This marks a 24.7 per cent increase compared to the $1.436bn recorded in the same period of 2024, according to the Executive Director of the council, Nonye Ayeni.
Speaking at a briefing on the council’s latest performance report, Ayeni said the volume of non-oil exports also rose to 2.416 million metric tonnes, up from 1.937 million metric tonnes recorded in the corresponding period of 2024.
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She said, “I am glad to inform you that Nigeria’s non-oil products exported in the first quarter of 2025 were valued at $1.791bn. This is a 24.75 per cent increase over and above $1.436bn reported in the first quarter of 2024. The volume also increased to 2.416 million metric tonnes, which is an increase of 243.44 per cent from 1.937 million metric tonnes recorded in the first quarter of 2024.”
The products exported, she noted, ranged from manufactured and semi-processed goods to industrial extracts and agricultural commodities.
Cocoa and its derivatives, including cocoa butter, cocoa liquor, and cocoa cake, emerged as the leading non-oil exports, accounting for over 45 per cent of the total. Urea and fertilizer followed closely, contributing 19.32 per cent, while cashew nuts made up 5.81 per cent.
Ayeni noted that Indorama Eleme Petrochemicals, Fertilizer Chemical Limited, Starlink Global, and Ideal Limited topped the list of exporting companies, accounting for 12.07 per cent and 10 per cent respectively.
This was largely due to their substantial export of fertilizer and cocoa products.
The NEPC boss also revealed that the cumulative value of Nigeria’s non-oil exports in 2024 stood at $5.456bn, representing a 20.79 per cent increase year-on-year.
She said the impressive performance highlights the effectiveness of ongoing efforts to diversify the country’s economy away from crude oil dependency.
