Non-oil Exports Soar by 24.7%
Nigeria’s non-oil export sector recorded important progress within the first quarter of 2025, with the entire worth hitting $1.791bn, the Nigerian Export Promotion Council (NEPC) disclosed on Monday.
This marks a 24.7 per cent improve in comparison with the $1.436bn recorded in the identical interval of 2024, based on the Government Director of the council, Nonye Ayeni.
Talking at a briefing on the council’s newest efficiency report, Ayeni mentioned the amount of non-oil exports additionally rose to 2.416 million metric tonnes, up from 1.937 million metric tonnes recorded within the corresponding interval of 2024.
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She mentioned, “I’m glad to tell you that Nigeria’s non-oil merchandise exported within the first quarter of 2025 have been valued at $1.791bn. It is a 24.75 per cent improve over and above $1.436bn reported within the first quarter of 2024. The amount additionally elevated to 2.416 million metric tonnes, which is a rise of 243.44 per cent from 1.937 million metric tonnes recorded within the first quarter of 2024.”
The merchandise exported, she famous, ranged from manufactured and semi-processed items to industrial extracts and agricultural commodities.
Cocoa and its derivatives, together with cocoa butter, cocoa liquor, and cocoa cake, emerged because the main non-oil exports, accounting for over 45 per cent of the entire. Urea and fertilizer adopted carefully, contributing 19.32 per cent, whereas cashew nuts made up 5.81 per cent.
Ayeni famous that Indorama Eleme Petrochemicals, Fertilizer Chemical Restricted, Starlink International, and Preferrred Restricted topped the listing of exporting firms, accounting for 12.07 per cent and 10 per cent respectively.
This was largely as a result of their substantial export of fertilizer and cocoa merchandise.
The NEPC boss additionally revealed that the cumulative worth of Nigeria’s non-oil exports in 2024 stood at $5.456bn, representing a 20.79 per cent improve year-on-year.
She mentioned the spectacular efficiency highlights the effectiveness of ongoing efforts to diversify the nation’s financial system away from crude oil dependency.
