Nigeria’s non-oil exports rise by 24.75% in Q1 2025, valued at $1.79 bn – NEPC

…Cocoa beans lead non-oil exports, contributing 45.02% of the total value

Nigeria’s non-oil export sector continued its growth trajectory in the first quarter of 2025, recording a 24.75% increase compared to the same period in 2024, as non-oil products valued at US$1.791 billion were exported between January and March 2025, up from US$1.436 billion in the first quarter of 2024.

Nonye Ayeni, Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), announced these figures during a press briefing held in Abuja to present the First Quarter Non-Oil Export Performance Report for 2025.

“Gentlemen of the press, ladies and gentlemen, I am glad to inform you that Nigeria’s Non-oil products exported in the first quarter of 2025 were valued at US$1.791 billion. This is a 24.75% increase over and above US$ 1.436 billion reported in the First Quarter of the year 2024. The volume also increased to 2.416 million metric tonnes, which is an increase of 243.44% from 1.937 million Metric Tons recorded in first quarter of 2024,” Ayeni stated

Ayeni noted that the volume of exports also surged significantly to 2.416 million metric tonnes, representing a 243.44% increase from the 1.937 million metric tonnes recorded in the same period last year.

She recalled that in January 2025, the Council had reported Nigeria’s highest ever non-oil export value for the full year 2024, which grew by 20.77% year-on-year to US$5.456 billion from US$4.517 billion in 2023.

“The Council working with our supervising ministry, Federal Ministry of Industry, Trade and Investment, and other stakeholders remains committed towards continuing this trajectory of increasing the volume and value of non-oil exports from Nigeria by providing support to the exporting community in the areas of capacity building, standardization, enhancing market access and others,” she added.

She also said that these efforts align with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the policy drive of Jumoke Oduwole, Minister of Industry, Trade and Investment. According to Ayeni, the results being achieved underscore the impact of strategic initiatives such as the “Double Your Exports” campaign.

A total of 197 distinct products were exported in the first quarter of 2025, up from 162 products in the same period in 2024. The range of products included manufactured goods, semi-processed goods, industrial extracts, and agricultural commodities.

Based on data from Pre-shipment Inspection Agents (PIAs), Ayeni also stated that Cocoa and its derivatives such as cocoa butter, cocoa liquor, and cocoa cake topped the list of the top-20 exported products. These were followed by Urea, Cashew Nuts, Sesame Seeds, Gold Dore, Aluminium Ingots, Copper Ingots, Soybeans/meal, and Rubber.

Cocoa Beans alone accounted for 45.02% of total non-oil exports, maintaining its lead position, while UreaFertiliser ranked second with 19.32%, and Cashew Nuts third with 5.81%.

Among the top-performing companies, Indorama Eleme Fertiliser and Chemical Limited and Starlink Global & Ideal Limited retained the first and second positions, respectively, contributing 12.07% and 10.00% of the total non-oil export value, mainly through fertiliser and cocoa products.

On exports to African countries, ten ECOWAS member states imported a total of 362,126.92 metric tonnes of Nigerian products valued at US$63.060 million in Q1 2025, marking a 223.10% increase over the US$19.517 million recorded in Q1 2024. Additional exports to other African nations totalled 281,480.29 metric tonnes valued at US$32.732 million.

Ayeni emphasised that the continued rise in non-oil exports demonstrates the sector’s untapped potential and the growing confidence of stakeholders. She also highlighted the importance of the African Continental Free Trade Area (Afcfta) as a critical driver for intra-African trade, stressing that Nigeria is working diligently to leverage Afcfta opportunities to solidify its position as Africa’s leading trade hub.

“The Council working with various stakeholders and the Federal Ministry of industry, Trade and Investment, is working very hard to ensure that Nigeria becomes a hub and takes its position as the Giant of Africa,” she said.