Nigeria’s Non-Oil Exports Hit 49 Year High at $1.7 Billion in Q1

Nigeria’s non-oil exports reached an all-time high of $1.7 billion in the first quarter of 2025, marking the highest quarterly export value in nearly five decades, according to figures released by the Nigerian Export Promotion Council (NEPC).

Cocoa and its derivatives led the surge, accounting for 45 percent of the total export volume.

Other top contributors included cashew nuts, sesame seeds, aluminium and copper ingots, soybeans, and rubber all reflecting a growing diversification of the nation’s export economy.

Executive Director of the NEPC, Nonye Ayeni, described the performance as historic. She revealed that the Q1 2025 export figures represented a 24.75 percent increase compared to the corresponding quarter in 2024 the highest year-on-year growth recorded since the council was established 49 years ago.

“This milestone signals a turning point for Nigeria’s non-oil export strategy,”

Ayeni said. “It affirms our efforts to promote value-added products and reduce overreliance on crude oil.”

The strong showing is attributed to increased global demand for Nigerian agricultural and mineral commodities, ongoing government support for export-oriented businesses, and reforms aimed at easing trade barriers.

As Nigeria continues its push toward economic diversification, analysts believe sustained investment in processing and value addition could further boost non-oil earnings, positioning the country more competitively in global markets.