admin
The Nigerian Export Promotion Council (NEPC) says the country’s non-oil export rose to $1.791 billion in the first quarter, Q1, 2025, representing a whooping 24.7 percent increase when compared to the $1.436bn recorded in the corresponding period in 2024.
The Executive Director of NEPC, Nonye Ayeni, disclosed this on Monday at a news briefing in Abuja.
Ayeni said the volume of non-oil exports also rose to 2.416 million metric tonnes, up from 1.937 million metric tonnes recorded in the corresponding period of 2024.
She said, “I am glad to inform you that Nigeria’s non-oil products exported in the first quarter of 2025 were valued at $1.791bn. This is a 24.75 per cent increase over and above $1.436bn reported in the first quarter of 2024. The volume also increased to 2.416 million metric tonnes, which is an increase of 243.44 per cent from 1.937 million metric tonnes recorded in the first quarter of 2024.”
The products exported, she noted, ranged from manufactured and semi-processed goods to industrial extracts and agricultural commodities.
Cocoa and its derivatives, including cocoa butter, cocoa liquor, and cocoa cake, emerged as the leading non-oil exports, accounting for over 45 per cent of the total. Urea and fertilizer followed closely, contributing 19.32 per cent, while cashew nuts made up 5.81 per cent.
Ayeni noted that Indorama Eleme Petrochemicals, Fertilizer Chemical Limited, Starlink Global, and Ideal Limited topped the list of exporting companies, accounting for 12.07 per cent and 10 per cent respectively.
This was largely due to their substantial export of fertilizer and cocoa products.
The NEPC boss also revealed that the cumulative value of Nigeria’s non-oil exports in 2024 stood at $5.456bn, representing a 20.79 per cent increase year-on-year.
She said the impressive performance highlights the effectiveness of ongoing efforts to diversify the country’s economy away from crude oil dependency.
Agency News
Abubakar Siddiq Ibn Usman
