Nigeria’s Non-Oil Export Receipt Hits $1.79 billion in Q1
The Nigeria Export Promotion Council (NEPC) says the country’s non-oil products exported in the first quarter of 2025 were valued at 1.791 billion dollars, reflecting government efforts to diversify the country’s revenue sources.
Dr Nonye Ayeni, Director-General of the NEPC, said this on Monday in Abuja while presenting a First Quarter Progress Report on the non-oil export performance for the year 2025.
Ayeni said that the figure showed a 24.75 per cent increase above the 1.436 billion dollars reported in the first quarter of 2024.
She said that the volume also increased to 2.416 million metric tonnes which was an increase of 243.44 per cent from 1.937 million Metric tons recorded in the first quarter of 2024
“In the first quarter of 2025, a total of 197 distinct products were exported.
“This figure reflects an increase when compared to the 162 products recorded in the first quarter of 2024.
“These products range from manufactured and semi-processed goods to industrial extracts and agricultural commodities,” she said.
Ayeni recalled that in January, the NEPC reported the highest value of non-oil export since 49 years of its establishment.
According her, this is with a year-on-year increase of 20.77 per cent from 4.517 billion dollars in 2023 to 5.456 billion dollars in 2024.
She said that out of the top 20 leading export companies, Indorama Eleme Fertiliser and Chemical Ltd and Starlink Global and Ideal Ltd, maintained their position as first and second.
She said that the two companies recorded 12.07 per cent and 10.00 per cent respectively. According to her, this is attributed to their notable export values of fertiliser and cocoa products.
The director-general said that 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.
Ayeni said that Urea, cashew Nut, Sesame Seed, Gold Dore, Cocoa Butter, Aluminium Ingots, Copper Ingot, Soya Beans/meal, rubber were the top of the list.
According to her, this is based on information from pre-shipment inspection agents (PIAs).
She said that the top commodity in terms of total non-oil export, accounting for 45.02 percent, was cocoa beans.
She said that urea/fertiliser held second position at 19.32 percent, while cashew nuts came third with 5.81 percent of the total exported products.
“The council is working with the Ministry of Industry, Trade and Investment and other stakeholders toward increasing the volume and value of non-oil exports. The efforts are aligned with President Bola Tinubu’s Renewed Hope Agenda,” she said.
She also said that 10 member countries of ECOWAS actively engaged in importing Nigerian products throughout the First Quarter of 2025. “These exports, amounting to 63.060 million dollars, constituted 3.52 per cent of the total export value.
“This is also a significant increase of 223.10 per cent when compared to the recorded figure of 19.517 million dollars 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 32.732 million dollars, represented 1.83 percent of the total export value,” Ayeni said. She said that the non-oil exports were increasing, adding that all stakeholders are taking advantage of the potentials and opportunities inherent in the sector. #Nigeria’s Non-Oil Export Receipt Hits $1.79 billion in Q1 BUA Cement Bolsters Earnings; Profit Rises by 351% in Q1
