Nigeria's export earnings from non-oil sectors reached a record-breaking $3.23 billion, according to recent reports.
Nigeria's Non-Oil Exports Surge by 19.59% in H1 2025
Nigeria's non-oil exports have experienced a significant boost in the first half of 2025, with the value reaching $3.225 billion – a 19.59% increase compared to the same period in 2024. The volume of goods exported also rose from 3.83 million to 4.04 million metric tonnes.
This growth is mainly driven by the rising global demand for Nigerian commodities, particularly from emerging markets such as India, Brazil, Vietnam, and several African countries.
Key factors contributing to this surge include diversification efforts by Nigeria to reduce reliance on oil revenues, enhanced trade relationships with key emerging markets, and increased volume of goods shipped abroad, reflecting improved production and export capacity.
The Nigerian Export Promotion Council (NEPC), led by Executive Director/Chief Executive Officer Nonye Ayeni, has been instrumental in this growth. Ayeni has emphasized the importance of expanding market access, improving product quality, and strengthening Nigeria's presence in emerging economies to maintain and increase non-oil exports.
In the first quarter of 2025, non-oil exports were valued at $1.791 billion, a 24.75% increase compared to Q1 2024. The shipment volumes for the same quarter were 2.416 million metric tonnes, a 24.3% increase from the corresponding period in 2024.
The NEPC reported earning $4.8 billion from non-oil exports in 2022. Ayeni's optimistic outlook for the second half of 2025 indicates a potential for continued growth in non-oil exports.
Nonye Ayeni disclosed these figures in Abuja on Sunday, and the NEPC is now calling for support to sustain the growth in non-oil exports. The First Half-Year Progress Report on the country's non-oil export performance, presented by Ayeni, provides a comprehensive overview of the council's achievements, challenges, and future prospects.
The rise in global demand for Nigerian products, coupled with the council's efforts in export promotion and economic diversification, suggests a promising future for Nigeria's non-oil exports.
- The Nigerian Export Promotion Council (NEPC) in Abuja, led by Nonye Ayeni, has been advocating for support to sustain the growth in non-oil exports, recognizing the potential for continued growth in the second half of 2025.
- Ayeni's optimistic outlook for the second half of 2025 indicates a potential for increased business opportunities, particularly in the finance and industry sectors, as non-oil exports are expected to grow further.
- In light of the surge in non-oil exports, key government officials such as Executive Director/Chief Executive Officer Nonye Ayeni and high-ranking individuals like Bola Tinubu might explore investing in Nigeria's growing non-oil industry.
- Nigeria's burgeoning non-oil export sector could attract foreign investments from other countries, such as India, Brazil, Vietnam, and several African nations, given their rising global demand for Nigerian commodities.
