In a strong signal that Nigeria’s economic diversification efforts are gaining traction, the Nigerian Export Promotion Council (NEPC) has announced that non-oil exports generated $1.79 billion in the first quarter of 2025.
This figure marks a significant increase compared to the same period in 2024 and reflects the growing strength of agriculture, manufacturing, and processed goods in Nigeria’s external trade portfolio.
What’s Driving the Export Boom?
According to the NEPC, the top-performing non-oil exports included:
- Agricultural products (cocoa, sesame seeds, ginger, hibiscus)
- Semi-processed and manufactured goods
- Solid minerals
- Creative services and digital products
This shift highlights that Nigeria is finally reducing its dangerous overdependence on crude oil, which has historically contributed over 85% of export earnings.
The Key Numbers
- Total non-oil export earnings (Q1 2025): $1.79 billion
- Number of exporting companies: Over 1,000
- Top export destinations: Netherlands, USA, China, Spain, India
Notably, 42% of the exported products were fully processed or manufactured, a sign that value addition is finally entering the export mix.
FX Diversification = Economic Stability
When a country exports more than oil, it earns foreign exchange from multiple sources, builds resilience, and supports local industries.
This non-oil export growth helps:
- Stabilise the naira
- Support local producers
- Boost SME export capacity
- Improve Nigeria’s balance of trade
Why This Matters for You
Whether you’re:
- An entrepreneur
- An investor
- Or a policymaker
… this data shows where real opportunities are emerging especially in agribusiness, light manufacturing, and digital exports.
What to Watch Next
- Will the government sustain this momentum with tax incentives or logistics upgrades?
- Can export bottlenecks (ports, FX access, transport) be eased for SMEs?
- Will this growth help lift GDP and reduce Nigeria’s unemployment rate?
Financial Juggernut Take
Oil may still dominate headlines, but the real growth story is quietly happening in containers, warehouses, and cocoa farms.
$1.79 billion isn’t just revenue it’s proof that Nigeria is learning to export value, not just volume.
