Nigeria’s non-oil exports grew sharply in the first half of 2025, reaching $3.225 billion — a 19.59% rise from the $2.696 billion recorded in the same period of 2024, according to fresh data from the Nigerian Export Promotion Council (NEPC).
The figures, announced in Abuja on Sunday by NEPC Director-General Nonye Ayeni during the presentation of the H1 2025 Non-Oil Export Performance Report, show that export volumes also climbed to 4.04 million metric tonnes, up from 3.83 million metric tonnes in H1 2024.
The performance builds on a strong first quarter, when exports hit $1.791 billion, up 24.75% from $1.436 billion in Q1 2024. Volumes for that period surged 24.3% to 2.416 million metric tonnes, suggesting the momentum is more than seasonal.
Ayeni said the scope of products leaving Nigeria’s shores continues to widen. In H1 2025, 236 distinct products were exported, up 16.83% from 202 products a year earlier. These ranged from agricultural commodities and extractive industry products to manufactured goods and semi-processed items.
She highlighted a slow but steady shift away from a purely agricultural export base toward higher-value semi-manufactured goods, which fetch better prices on the international market. Cocoa beans retained its top spot in the export mix, accounting for 34.88% of total export value, compared with 23.18% in H1 2024. Urea and fertilizer products ranked second at 17.65%, up from 13.78% last year.
AfCFTA and value addition drive growth
Ayeni credited the African Continental Free Trade Area (AfCFTA) with boosting Nigeria’s export prospects by opening new markets across the continent and lowering tariff barriers. This, she said, has encouraged more Nigerian exporters to explore opportunities beyond traditional partners.
The NEPC chief also pointed to a shift in export strategy: more businesses are investing in product transformation before shipment, leading to higher returns.
“The non-oil export of Nigerian products is gradually diversifying from traditional agriculture exports to semi-manufactured products,” she noted.
Ayeni said the council’s intervention programmes — from training on quality standards, packaging, and certification to guidance on export documentation — have made Nigerian products more competitive abroad. These initiatives, she explained, have been particularly important in meeting the standards of emerging markets such as India, Brazil, and Vietnam, which, along with several African nations, have driven much of the recent demand.
The export gains align with President Bola Tinubu’s Renewed Hope Agenda and the Ministry of Industry, Trade, and Investment’s push for a more diversified, resilient economy. Ayeni reaffirmed NEPC’s readiness to deepen collaboration with stakeholders to further boost export value and volume.
She said the combination of market expansion under AfCFTA, rising global demand for value-added goods, and government-backed capacity building has created the conditions for sustained growth in non-oil exports — a sector long seen as critical to reducing Nigeria’s reliance on crude oil revenues.
However, experts warn that while the latest figures are promising, they are not yet enough to transform Nigeria’s economic fundamentals. The country’s import dependence — especially for refined petroleum products, machinery, pharmaceuticals, and key industrial inputs — continues to offset export earnings. This means that any trade balance improvement could be quickly eroded if global oil prices dip or domestic manufacturing fails to scale up.
Additionally, the volatility of the naira remains a pressing concern. The recent export boost has provided some foreign exchange inflows, but sustained stability will require consistent export performance, diversification into higher-value goods, and a clear fiscal strategy to reduce reliance on foreign debt. Analysts stress that without long-term reforms — including infrastructure upgrades, energy reliability, and streamlined export procedures — the momentum could fade.
Overall, the export gains mark a rare positive note for Nigeria’s economy in 2025, offering policymakers a window to reinforce currency stability, encourage industrialization, and reshape the nation’s trade profile. The challenge will be ensuring that this short-term progress becomes the foundation for sustained growth, rather than another fleeting bright spot in an otherwise volatile economy.
