By Kingsley Benson
Nigeria’s push to diversify its economy is yielding measurable gains, with non-oil exports climbing 19.6% in the first half of 2025 to $3.225 billion, up from $2.7 billion in the same period last year.
The Chief Executive of the Nigerian Export Promotion Council (NEPC), Mrs. Nonye Ayeni, attributed the growth to robust global demand for cocoa, urea, and other agricultural products, coupled with government trade initiatives and regional market opportunities.
Export volumes also increased, rising from 3.83 million metric tons in H1 2024 to 4.04 million metric tons this year.
According to her, Cocoa and its derivatives dominated the export chart, accounting for roughly 35% of total earnings.
Mrs. Ayeni said that the surge was driven by higher global prices, expanded local processing capacity, and improved compliance with international quality standards. Urea and cashew nuts also featured prominently among the top exports.
The council noted that the African Continental Free Trade Area (AfCFTA) provided a further boost, easing access to wider markets and reducing tariffs for Nigerian products.
Government-backed capacity-building programmes, Mrs. Ayeni also noted, have helped exporters meet stringent requirements in competitive markets.
Indorama Eleme Fertilizer Ltd. emerged as the top exporter, followed by Starlink Global and Dangote Fertilizer Ltd. Key destinations for Nigerian non-oil goods included the Netherlands, which took 18.64% of shipments, the United States, and India.
With oil still accounting for about two-thirds of government revenue and 80% of foreign currency earnings, Mrs. Ayeni said that the sustained growth in non-oil exports signals progress toward economic diversification – a central goal of the President Tinubu administration’s reform agenda.
