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Non-Oil Exports Soar 24.7%, Reaching $1.7 Billion in New Record

W. Syaban

May 04, 2025

In the first quarter of 2025, Nigeria witnessed substantial expansion in its non-oil export sector, reaching a total value of $1.791 billion, as revealed by the Nigerian Export Promotion Council on Monday.

This represents a 24.7 percent rise from the $1.436 billion noted in the corresponding period of 2024, as stated by Council’s Executive Director, Nonye Ayeni.

At a briefing about the council’s most recent performance report, Ayeni mentioned that the amount of non-oil exports increased to 2.416 million metric tons, compared to 1.937 million metric tons during the same timeframe in 2024.

She stated, "It gives me pleasure to notify you that Nigeria's exports of non-oil goods in the initial three months of 2025 amounted to $1.791 billion. This represents a rise of 24.75 percent compared to the $1.436 billion documented for the same period in 2024. Additionally, the quantity shipped rose to 2.416 million metric tons, marking a significant jump of 243.44 percent from the 1.937 million metric tons observed in Q1 2024."

She pointed out that the range of exports included manufactured items, semi-processed goods, industrial extracts, as well as agricultural products.

Cocoa and its various forms such as cocoa butter, cocoa liquor, and cocoa cake became the top non-petroleum exports, representing more than 45 percent of all exports. This was trailed by urea and fertilizers, which comprised 19.32 percent, whereas cashew nuts constituted only 5.81 percent.

Ayeni pointed out that Indorama Eleme Petrochemicals and Fertilizer Chemical Limited led the list of export firms, contributing 12.07 percent and 10 percent each. Additionally, Starlink Global and Ideal Limited were also among the top exporters.

This can primarily be attributed to their significant exports of fertilizers and cocoa products.

The head of NEPC disclosed that the total worth of Nigeria’s non-oil exports for the year 2024 amounted to $5.456 billion, marking a rise of 20.79 percent compared to the previous year.

She stated that the remarkable performance underscores the success of current initiatives aimed at shifting the nation’s economy away from reliance on crude oil towards greater diversity.

Provided by SyndiGate Media Inc. Syndigate.info ).

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