Nigeria's Non-Oil Exports Surge 19.6% to $3.225 Billion in 2025

Strategic Insights -

Nigeria's non-oil exports have experienced significant growth, driven by global demand for products such as cocoa, urea/fertiliser, and cashew nuts. In the first half of 2025, non-oil exports reached $3.225 billion, a 19.6% increase from the previous period. The Lagos Chamber of Commerce and Industry (LCCI) has commended the federal government's recent diplomatic missions to Brazil and Japan, highlighting the potential for fresh trade opportunities amidst ongoing global tariff tensions. Despite the challenges posed by the decline in export revenues from the U.S. and volatility in crude oil prices, the LCCI has urged the government to seek strategic partners to bolster Nigeria's negotiating position.

Key Takeaways:

  • Nigeria's non-oil exports increased by 19.6% to $3.225 billion in the first half of 2025, driven by global demand for products such as cocoa, urea/fertiliser, and cashew nuts.
  • The Lagos Chamber of Commerce and Industry (LCCI) commended the federal government's recent diplomatic missions to Brazil and Japan, highlighting the potential for fresh trade opportunities amidst ongoing global tariff tensions.
  • The LCCI urged the government to seek strategic partners to bolster Nigeria's negotiating position, citing the signing of the Bilateral Air Service Agreement (BASA) with Brazil as a notable step forward.
  • The BASA has the potential to expand export markets, enhance tourism and cultural exchange, and create valuable opportunities in technical fields such as aircraft maintenance and aerospace engineering for Nigerian youth.
  • The director-general of LCCI, Dr. Chinyere Almona, emphasized the need for Nigeria to diversify and strengthen its non-oil exports and intra-African trade to mitigate the challenges posed by the decline in export revenues from the U.S. and volatility in crude oil prices.
  • The Tokyo International Conference on African Development (TICAD 9) outcomes included a $238 million collaborative financing framework to upgrade Nigeria's national electricity generation grid infrastructure.

Statistics:

  • Non-oil exports: $3.225 billion (first half of 2025)
  • Increase in non-oil exports: 19.6%
  • Export market share: 4.04 million metric tons (first half of 2025)
  • Comparison to 2024: 3.83 million metric tons (first half of 2024)
  • U.S. export revenues: declined in the first half of 2025
  • Crude oil price volatility: has resulted in dollar liquidity challenges for foreign exchange inflows
  • Tokyo International Conference on African Development (TICAD 9) collaborative financing framework: $238 million
  • Increase in non-oil exports to the U.S.: decreased in the first half of 2025

Sources:

  • "Nigeria's Global Partnerships: From Agreements To Action" - Lagos Chamber of Commerce and Industry (LCCI) report
  • Dr. Chinyere Almona, director-general of LCCI, as quoted in the report