Nigeria’s non oil exports hit record as diversification gains pace

Tuesday 03 - 15:40

By: Dakir Madiha

Nigeria’s non oil exports hit record as diversification gains pace

Nigeria’s non oil exports have climbed to a historic high, underscoring the country’s drive to reduce its long standing dependence on crude revenues and broaden its economic base. According to recent figures released by the Nigerian Export Promotion Council (NEPC), non oil exports reached about 6.1 billion dollars in 2025, an increase of roughly 11.5 percent compared with 2024 levels. The council said the performance reflects stronger global demand, improved local value chains, and the impact of government policies targeting export led growth.

NEPC’s latest annual report shows that exporters shipped more than eight million metric tons of non oil goods in 2025, up around ten percent from the previous year. The export basket has become more diverse and now covers more than 280 different products, ranging from agricultural commodities to semi finished goods and manufactured items. Officials note that this is the highest value ever recorded for formally documented non oil trade in Nigeria, marking a turning point after years of volatility linked to swings in international oil prices.

Cocoa beans and cocoa products remain the backbone of non oil exports, accounting for a substantial share of total earnings as global prices and demand have risen. Cashew nuts, sesame seeds, urea and other fertilizers, aluminium, copper and gold are also among the top performing products. Export volumes have grown in both raw and processed segments, which suggests that more Nigerian firms are moving up the value chain rather than relying solely on unprocessed primary commodities.

Nigeria’s non oil exports now reach buyers in around 120 countries, led by the Netherlands, Brazil and India, which together absorb a significant portion of total shipments. European, Asian and American markets have all expanded their purchases of Nigerian goods, helped by trade missions, export promotion programs and the implementation of regional and continental trade agreements. Officials say the African Continental Free Trade Area in particular has opened new channels for Nigerian exporters and reduced tariff and non tariff barriers in key African markets.

The federal government has framed the export surge as a validation of its economic diversification agenda and “Renewed Hope” program under President Bola Ahmed Tinubu. In remarks delivered in Abuja, NEPC chief executive Nonye Ayeni said the record performance highlights the resilience of Nigerian producers and exporters in a tough global environment. She stressed that the council is working to formalize informal cross border trade, strengthen quality standards and logistics, and support small and medium sized firms that want to enter export markets.

Despite the progress, challenges remain. Many exporters still face high transport and energy costs, limited access to affordable financing, and infrastructure gaps at ports and border posts. Analysts warn that sustaining double digit growth in non oil exports will require continued reforms, including investment in storage and processing facilities, streamlined customs procedures and more predictable regulatory frameworks. They also point to the need for better coordination between national and subnational authorities so that companies can respond quickly to shifts in global demand.

Policymakers argue that the long term payoff could be significant. Stronger non oil exports can help stabilize the currency, create new jobs along agricultural and industrial value chains, and make public finances less vulnerable to swings in oil prices. If current trends continue and reforms deepen, Nigeria could move closer to its medium term target of pushing non oil export earnings into the tens of billions of dollars each year, turning today’s record into a new baseline for a more diversified economy.