Despite ongoing global trade tariff tensions, Nigeria’s non-oil exports in the first quarter of 2025 rose sharply by 24.75 per cent to $1.791 billion, according to figures released by the Nigerian Export Promotion Council.
The Executive Director/Chief Executive of the NEPC, Nonye Ayeni, who announced the figures during a media briefing on Monday, said the result marks a 24.75 per cent rise over the $1.436 billion recorded in the first quarter of 2024.
She further explained that export volume climbed to 2.416 million metric tonnes, representing a 243.44 per cent increase from the 1.937 million metric tonnes recorded during the same period in 2024.
On the diversity of exports, Ayeni revealed that a total of 197 distinct products were shipped abroad, showing growth from the 162 products recorded in the first quarter of 2024.
These products, she noted, ranged from manufactured and semi-processed goods to industrial extracts and agricultural commodities, among others.
She said, “Based on information received from Pre-shipment Inspection Agents (PIAs), of the top-20 products exported in the first quarter of 2025, Cocoa and its derivatives including cocoa butter, cocoa liquor, cocoa cake came first, followed by Urea, Cashew Nut, Sesame Seed, Gold Dore, Cocoa Butter, Aluminium Ingots, Copper Ingot, Soya Beans/meal, Rubber were the top of the list.
“The top commodity in terms of total non-oil export, accounting for 45.02 per cent was Cocoa Beans. Urea/Fertilizer held the second position at 19.32 per cent while Cashew Nuts came third with 5.81 per cent of the total exported products.”
On the top-performing companies, Ayeni said Indorama Eleme Fertilizer and Chemical Limited and Starlink Global & Ideal Limited maintained their lead as the first and second largest non-oil exporters with 12.07 per cent and 10.00 per cent contributions, respectively, attributing their dominance to notable export values of fertilizer and cocoa products.
She added, “Ten member countries of ECOWAS actively engaged in importing Nigerian products throughout the first quarter of the year 2025.
“These exports, totaling 362,126.92 Metric Tons and amounting to $63.06m, constituted 3.52 per cent of the total export value and also a significant increase of 223.10 per cent when compared to the recorded figure of $19.517m for the first quarter of the year 2024.
“Nigeria also exported to other African countries in the first quarter of 2025. The value of these exports, totaling 281,480.29 Metric Tons valued $32.732m, represented 1.83 per cent of the total export value.
“These are evidence to show that the non-oil export is increasing and all stakeholders are taking advantage of the potential and opportunities inherent in the sector.
“It also lends credence to the fact that AFCFTA holds the key to intra-African trade as it promises to be the largest free trade area in the world, both by area and by the number of countries, connecting the 55 countries in Africa with 1.3 million people.”
“The Council, working with various stakeholders and the Federal Ministry of Industry, Trade and Investment, is working very hard to ensure that Nigeria becomes a hub and takes its position as the Giant of Africa.”
For non-oil export processing activities, Ayeni said that a total of 485 Nigerian Export Proceeds (NXPs) were processed across 28 banks in the first quarter of 2025.
She noted that Zenith Bank Plc led the list, contributing 30.71 per cent of the total NXPs for non-oil exports. First Bank of Nigeria Plc followed with 14.22 per cent, while Guaranty Trust Bank Plc ranked third with 8.89 per cent.
Regarding export logistics, she disclosed that 16 exit points were utilized to ship non-oil goods from Nigeria, with approximately 95 per cent routed through seaports.
Overall, six seaports, three international airports, and seven land borders served as exit points for non-oil exports during the period.
The Netherlands, Belgium, and Brazil emerged as the top three destinations for Nigeria’s non-oil products based on export value.