Nigeria's Non-Oil Exports Surge, Contributions to Macro Economy Growth

Strategic Insights -

Nigeria's federal government is intensifying efforts to diversify the economy, with a focus on non-oil exports, which have contributed significantly to stabilizing the macroeconomy in recent times. The country's non-oil exports, comprising goods and services sold to other nations excluding crude oil and its derivatives, have grown by 19.59 per cent to $3.23 billion in the first half of 2025, compared to $2.70 billion in the same period of 2024. This growth momentum is attributed to initiatives by the Nigerian Export Promotion Council (NEPC) under its current Executive Director/Chief Executive, Nonye Ayeni, who has continued to spearhead remarkable efforts to unlock forex to the economy, strengthen the local currency, and improve the country's export competitiveness.

Key Takeaways:

  • The volume of non-oil exports increased to 4.04 million metric tonnes (MMT) in the first half of 2025, compared to 3.83 MMT in the same period of 2024, reflecting a 6.16 per cent growth.
  • The value of non-oil exports rose by 19.59 per cent to $3.23 billion in the first half of 2025, compared to $2.70 billion in the same period of 2024, with cocoa and its derivatives accounting for 41.11 per cent of total export value.
  • The Nigerian Export Promotion Council (NEPC) has continued to play a crucial part in the non-oil sector through several laudable programmes, including the launch of a transformative sensitisation programme targeting Informal Cross Border Trade (ICBT) and the registration of 2,285 new exporters, including 377 female and 1,467 male exporters captured on its portal.
  • The growth in value-added exports improved earnings, as more exporters are now imbibing the culture of value addition to their products, with a total of 236 different products exported in the period under review, representing an increase of 16.83 per cent compared to the 202 distinct products exported in the first half of 2024.
  • The country is expanding access to global markets to ameliorate the possible impact of the recent hike in trade tariffs imposed on Nigeria by the United States, with the African Continental Free Trade Area (AfCFTA) providing wider market access and tariff relief for Nigerian exporters.

Statistics:

  • Nigeria's non-oil exports grew by 19.59 per cent to $3.23 billion in the first half of 2025, compared to $2.70 billion in the same period of 2024.
  • The volume of non-oil exports increased to 4.04 million metric tonnes (MMT) in the first half of 2025, compared to 3.83 MMT in the same period of 2024, reflecting a 6.16 per cent growth.
  • Cocoa and its derivatives accounted for 41.11 per cent of total export value in the first half of 2025, followed by Urea/fertilizer (17.65 per cent) and cashew nuts (12.35 per cent).
  • A total of 2,285 new exporters, including 377 female and 1,467 male exporters, were registered on the Nigerian Export Promotion Council (NEPC) portal in the first half of 2025.
  • The country exported a total of 236 different products in the period under review, representing an increase of 16.83 per cent compared to the 202 distinct products exported in the first half of 2024.

Sources:

  • This Day. Nigeria's Non-Oil Exports Surge to $3.23 Billion in First Half of 2025. (2025)
  • Nigerian Export Promotion Council (NEPC). Non-Oil Performance Report (2025)
  • AllAfrica Global Media. Nigeria's Non-Oil Exports Rise 19.59% to $3.23 Billion in First Half of 2025. (2025)