Amid economic strains caused by heavy dependence on oil revenue, Nigeria recorded a significant 19.6 per cent increase in non-oil exports, reaching $3.225 billion in the first half of 2025 compared to $2.7 billion in the same period of 2024.
Nonye Ayeni, Chief Executive of the Nigerian Export Promotion Council, attributed this growth to rising global demand for products like cocoa and urea, along with government trade initiatives and regional trade agreements.
Ayeni revealed that export volumes also rose to 4.04 million metric tons from 3.83 million tons in the first half of 2024. Cocoa beans, urea/fertilizer, and cashew nuts led the exports, with cocoa alone contributing about 35% of the total export value.
“Cocoa and its derivatives topped Nigeria’s non-oil exports, driven by rising global demand, higher prices, and increased local processing capacity,” Ayeni said.
The African Continental Free Trade Area played a key role in boosting exports by expanding market access and reducing tariffs. Government-backed programs, including training for exporters, also helped businesses meet international standards.
Indorama Eleme Fertilizer Ltd. emerged as the top exporter, followed by Starlink Global and Dangote Fertilizer Ltd. Nigeria continues efforts to diversify its economy, as oil still accounts for about two-thirds of government revenue and 80% of foreign exchange earnings.
The Netherlands, United States, and India were the leading export destinations, with the Netherlands alone receiving 18.64% of Nigeria’s total non-oil exports.