…Cocoa beans lead non-oil exports, contributing 45.02% of the overall worth

Nigeria’s non-oil export sector continued its progress trajectory within the first quarter of 2025, recording a 24.75% improve in comparison with the identical interval in 2024, as non-oil merchandise valued at US$1.791 billion have been exported between January and March 2025, up from US$1.436 billion within the first quarter of 2024.

Nonye Ayeni, Government Director/CEO of the Nigerian Export Promotion Council (NEPC), introduced these figures throughout a press briefing held in Abuja to current the First Quarter Non-Oil Export Efficiency Report for 2025.

“Gents of the press, girls and gents, I’m glad to tell you that Nigeria’s Non-oil merchandise exported within the first quarter of 2025 have been valued at US$1.791 billion. This can be a 24.75% improve over and above US$ 1.436 billion reported within the First Quarter of the yr 2024. The quantity additionally elevated to 2.416 million metric tonnes, which is a rise of 243.44% from 1.937 million Metric Tons recorded in first quarter of 2024,” Ayeni acknowledged

Ayeni famous that the quantity of exports additionally surged considerably to 2.416 million metric tonnes, representing a 243.44% improve from the 1.937 million metric tonnes recorded in the identical interval final yr.

She recalled that in January 2025, the Council had reported Nigeria’s highest ever non-oil export worth for the complete yr 2024, which grew by 20.77% year-on-year to US$5.456 billion from US$4.517 billion in 2023.

“The Council working with our supervising ministry, Federal Ministry of Business, Commerce and Funding, and different stakeholders stays dedicated in direction of persevering with this trajectory of accelerating the quantity and worth of non-oil exports from Nigeria by offering help to the exporting group within the areas of capability constructing, standardization, enhancing market entry and others,” she added.

She additionally mentioned that these efforts align with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the coverage drive of Jumoke Oduwole, Minister of Business, Commerce and Funding. Based on Ayeni, the outcomes being achieved underscore the impression of strategic initiatives such because the “Double Your Exports” marketing campaign.

A complete of 197 distinct merchandise have been exported within the first quarter of 2025, up from 162 merchandise in the identical interval in 2024. The vary of merchandise included manufactured items, semi-processed items, industrial extracts, and agricultural commodities.

Based mostly on information from Pre-shipment Inspection Brokers (PIAs), Ayeni additionally acknowledged that Cocoa and its derivatives comparable to cocoa butter, cocoa liquor, and cocoa cake topped the checklist of the top-20 exported merchandise. These have been adopted by Urea, Cashew Nuts, Sesame Seeds, Gold Dore, Aluminium Ingots, Copper Ingots, Soybeans/meal, and Rubber.

Cocoa Beans alone accounted for 45.02% of complete non-oil exports, sustaining its lead place, whereas UreaFertiliser ranked second with 19.32%, and Cashew Nuts third with 5.81%.

Among the many top-performing corporations, Indorama Eleme Fertiliser and Chemical Restricted and Starlink International & Preferrred Restricted retained the primary and second positions, respectively, contributing 12.07% and 10.00% of the overall non-oil export worth, primarily by means of fertiliser and cocoa merchandise.

On exports to African international locations, ten ECOWAS member states imported a complete of 362,126.92 metric tonnes of Nigerian merchandise valued at US$63.060 million in Q1 2025, marking a 223.10% improve over the US$19.517 million recorded in Q1 2024. Further exports to different African nations totalled 281,480.29 metric tonnes valued at US$32.732 million.

Ayeni emphasised that the continued rise in non-oil exports demonstrates the sector’s untapped potential and the rising confidence of stakeholders. She additionally highlighted the significance of the African Continental Free Commerce Space (Afcfta) as a crucial driver for intra-African commerce, stressing that Nigeria is working diligently to leverage Afcfta alternatives to solidify its place as Africa’s main commerce hub.

“The Council working with varied stakeholders and the Federal Ministry of business, Commerce and Funding, is working very exhausting to make sure that Nigeria turns into a hub and takes its place because the Big of Africa,” she mentioned.