In a sign of growing traction in Nigeria’s economic diversification agenda, the Nigeria Export Promotion Council (NEPC) has reported that the country’s non-oil exports reached a value of $1.791 billion in the first quarter of 2025.
This figure marks a significant year-on-year increase of nearly 25 per cent compared to the same period in 2024. Dr Nonye Ayeni, the Director-General of NEPC, presented the quarterly report in Abuja, noting both a rise in the value and volume of exports, with the total weight of exported goods rising by over 240 per cent.
The data reflects expanding diversification, with 197 distinct products exported during the period—up from 162 the year before. These exports included a mix of manufactured goods, semi-processed products, agricultural commodities, and industrial materials. Cocoa and its derivatives led the pack, contributing 45 per cent of the total value, followed by fertiliser at 19 per cent and cashew nuts at just under 6 per cent. Major players such as Indorama Eleme Fertiliser and Starlink Global retained leading positions in export contributions, thanks to continued demand for fertiliser and cocoa-based products.
Intra-African trade also saw an encouraging boost, with exports to ten ECOWAS member states valued at $63 million—over triple the amount recorded in the first quarter of 2024. Other African countries accounted for a further $32.7 million in exports. The NEPC emphasised that these figures underscore ongoing efforts to reduce Nigeria’s reliance on oil, in line with the federal government’s Renewed Hope Agenda. Collaborations with the Ministry of Industry, Trade and Investment, as well as broader regional engagement, remain key to sustaining this upward trend.