Abuja: The Nigeria Export Promotion Council (NEPC) has announced that the country’s non-oil exports for the first quarter of 2025 were valued at $1.791 billion. Dr. Nonye Ayeni, the Director-General of the NEPC, disclosed this information during a presentation of the First Quarter Progress Report on the Non-Oil Export Performance in Abuja.
According to News Agency of Nigeria, the reported figure indicates a 24.75 percent increase from the $1.436 billion recorded in the first quarter of 2024. The export volume also grew to 2.416 million metric tonnes, a significant rise of 243.44 percent from the 1.937 million metric tonnes in the same period last year.
Ayeni highlighted that a total of 197 distinct products were exported in the first quarter of 2025, compared to 162 products in the first quarter of 2024. These exports included a range of manufactured and semi-processed goods, industrial extracts, and agricultural commodities.
In January, the NEPC reported achieving the highest value of non-oil exports since its establishment 49 years ago, with a year-on-year increase of 20.77 percent from $4.517 billion in 2023 to $5.456 billion in 2024.
Among the top 20 leading export companies, Indorama Eleme Fertiliser and Chemical Ltd and Starlink Global and Ideal Ltd maintained their positions as the first and second, with export values of 12.07 percent and 10.00 percent, respectively. This achievement is attributed to their significant export values of fertiliser and cocoa products.
In terms of specific products, cocoa and its derivatives led the list of exports in the first quarter of 2025. Other top exported products included Urea, Cashew Nut, Sesame Seed, Gold Dore, Cocoa Butter, Aluminium Ingots, Copper Ingot, Soya Beans/Meal, and Rubber, based on data from Pre-shipment Inspection Agents (PIAs).
Cocoa beans accounted for 45.02 percent of the total non-oil export value, followed by urea/fertiliser at 19.32 percent, and cashew nuts at 5.81 percent. The council is collaborating with the Ministry of Industry, Trade and Investment, and other stakeholders to further increase the volume and value of non-oil exports, aligning with President Bola Tinubu’s Renewed Hope Agenda.
Furthermore, 10 member countries of ECOWAS actively imported Nigerian products in the first quarter of 2025, contributing $63.060 million, which represented 3.52 percent of the total export value. This marks a significant increase of 223.10 percent compared to the $19.517 million recorded in the first quarter of 2024.
Nigeria also exported goods to other African countries in the first quarter of 2025, with these exports valued at $32.732 million, accounting for 1.83 percent of the total export value. Ayeni emphasized that non-oil exports are on the rise, with stakeholders leveraging the sector’s potentials and opportunities.