Nigeria’s non-oil exports jump nearly 20% In H1’25 on cocoa, urea demand

By Emeka Anaeto

Against the back drop of strains in the Nigerian economy arising from dependence on oil for government revenue, Nigeria’s non-oil exports rose 19.6% to $3.225 billion in the first half of 2025, from $2.7 billion recorded in the corresponding period of 2024, H1’24.

Disclosing this yesterday, Nonye Ayeni, Chief Executive of Nigerian’s Export Promotion Council, NEPC, said the impressive performance was due to global demand for products such as cocoa and urea, as well as government trade initiatives and regional trade deals.

Ayeni said the volume of non-oil exports increased to 4.04 million metric tons from 3.83 million tons in the first half of 2024.

Products such as cocoa beans, urea/fertiliser, and cashew nuts dominated exports, with cocoa accounting for around 35% of total export value.

“Cocoa and its derivatives topped Nigeria’s non-oil exports, driven by rising global demand, higher prices, and increased local processing capacity,” Ayeni said.

The African Continental Free Trade Area also bolstered Nigeria’s exports, providing wider market access and tariff relief, while government-backed initiatives like training programmes helped exporters meet international standards.

Ayeni said Indorama Eleme Fertilizer Ltd. topped the list of exporters, followed by Starlink Global and Dangote Fertilizer Ltd.

Nigeria is striving to diversify its economy away from oil, which accounts for around two-thirds of government income and about 80% of its foreign currency earnings.

The Netherlands, United States, and India were the top export destinations, with the Netherlands taking 18.64% of total exports.

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