The Nigerian Export Promotion Council (NEPC) has reported that the nation’s non-oil export sector earnings significantly increased in the first quarter of this year, with the total value hitting $1.791 billion and representing 24.7% improvement when compared to the $1.436 billion earned in the corresponding quarter of 2024
Speaking at a media briefing on the NERC’s performance in the quarter under review on Monday in Abuja, the Executive Director and Chief Executive Officer (ED/CEO) of the Council, Nonye Ayeni, disclosed that volume of non-oil exports also rose to 2.416 million metric tonnes, up from 1.937 million metric tonnes recorded in Q1 last year.
She enthused: “I am glad to inform you that Nigeria’s non-oil products exported in the first quarter of 2025 were valued at $1.791bn. This is a 24.75 per cent increase over and above $1.436bn reported in the first quarter of 2024. The volume also increased to 2.416 million metric tonnes, which is an increase of 243.44 per cent from 1.937 million metric tonnes recorded in the first quarter of 2024.”
According to her, the non-oil products exported from the country ranged from manufactured and semi-processed goods to industrial extracts and agricultural commodities.
Specifically, the Executive Director explained that Cocoa and its derivatives, including cocoa butter, cocoa liquor, and cocoa cake topped the non-oil exports chart, accounting for over 45% of the total, closely followed by Urea and fertilizer, which contributed 19.32%, while cashew nuts accounted for 5.81% of the exported products.
On the ranking of the companies involved in the non-oil exports, Ayeni disclosed that Indorama Eleme Petrochemicals and Fertilizer Company Limited, and Starlink Global and Ideal Limited topped the list of exporting companies, accounting for 12.07% and 10% respectively.
The NEPC boss attributed the improved non-oil exports largely to the exports of fertilizers and cocoa products.
Noting that the cumulative value of Nigeria’s non-oil exports in 2024 stood at $5.456 billion, representing a 20.79% increase year-on-year (y-o-y), Ayeni maintained that the improvement in non-oil exports demonstrated the positive impact of ongoing efforts to diversify the nation’s economy and de-emphasize over-dependence on hydrocarbon resources exports.
