Nigeria’s Q1 2025 Non-Oil Export Surges 24.75%, Valued at $1.791 Billion
The Nigeria Export Promotion Council (NEPC) has reported that the country’s non-oil exports reached $1.791 billion in the first quarter of 2025, marking significant growth in the sector.
Record Growth in Non-Oil Exports
Nonye Ayeni, Director-General of NEPC, revealed these figures during a progress report presentation in Abuja, showing a 24.75% increase compared to the $1.436 billion recorded in Q1 2024.
The export volume also saw remarkable growth, increasing by 243.44% to 2.416 million metric tonnes from 1.937 million metric tons in the same period last year.
Diversification of Export Products
“In Q1 2025, Nigeria exported 197 distinct products, up from 162 products in Q1 2024,” Mrs. Ayeni stated. “These ranged from manufactured goods to agricultural commodities, demonstrating our growing export diversification.”
This performance follows NEPC’s January report of the highest non-oil export value in its 49-year history, with a year-on-year increase of 20.77% from $4.517 billion in 2023 to $5.456 billion in 2024.
Top Exporters and Products
The report highlighted:
- Indorama Eleme Fertiliser and Chemical Ltd and Starlink Global and Ideal Ltd maintained their positions as top exporters
- Cocoa and its derivatives led export products, accounting for 45.02% of total non-oil exports
- Urea/fertiliser (19.32%) and cashew nuts (5.81%) followed as major export commodities
Regional Export Performance
Nigeria’s exports to ECOWAS countries grew significantly:
- $63.060 million in exports to 10 ECOWAS members (3.52% of total exports)
- 223.10% increase from Q1 2024’s $19.517 million
- Other African countries imported $32.732 million worth of Nigerian products (1.83% of total exports)
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Government Commitment to Export Growth
Mrs. Ayeni emphasized the council’s collaboration with the Ministry of Industry, Trade and Investment to boost non-oil exports, aligning with President Bola Tinubu’s Renewed Hope Agenda.
“All stakeholders are leveraging the sector’s potential and opportunities,” she added, expressing optimism about continued growth in non-oil exports.
Source: NAN