By Ayomide Otitoju
Nigeria’s non-oil exports grew 21 percent to $12.8 billion in 2025, driven by policy reforms and trade initiatives under the Federal Ministry of Industry, Trade and Investment (FMITI), the ministry’s 2025 review reported. Overall trade value rose 14 percent, reflecting broader economic expansion.
The ministry said the growth marked a key phase in Nigeria’s economic repositioning under President Bola Ahmed Tinubu’s Renewed Hope Agenda. Non-oil exports in the first half of 2025 reached nearly double the $6.5 billion target, contributing to a N12 trillion trade surplus.
Leading export commodities included cocoa and cocoa derivatives, cashew nuts, sesame seeds, shea butter, ginger, hibiscus flower, rubber, palm oil derivatives, fertilizers, cement, clinker, and liquefied natural gas. Export capacity was boosted through partnerships with the Nigerian Export Promotion Council (NEPC), which trained 27,352 exporters, certified 200 MSMEs for international trade, and supported 3,047 farmers with hybrid seedlings.
The Women Export Fund expanded access to trade finance, attracting over 67,000 applications and awarding grants to 146 women-led enterprises. Special Economic Zones generated over $500 million in export revenue and created more than 20,000 direct jobs, highlighting their role in industrialization and export-led growth.
The review also noted progress in investment attraction, with four priority projects worth $13.7 billion advancing to advanced stages, a 25 percent conversion from $50.8 billion in signed MoUs. FMITI reported a structured, de-risked investment pipeline exceeding $5 billion across priority sectors, leveraging targeted roadshows and curated deal rooms.
Non-oil exports recorded N9.2 trillion in the first nine months of 2025—a 48 percent increase from the previous year—driven partly by the 2023 Naira devaluation, which made Nigerian goods more competitive. H1 2025 exports rose 19.6 percent to $3.25 billion, with cocoa beans (34.88%), urea/fertilizer (17.65%), cashew nuts (12.35%), and sesame seeds (4.23%) as top products. Export diversification also increased, with 236 distinct products shipped in H1 2025, up from 202 in H1 2024.
The ministry emphasized that improved processes, trade reforms, and value addition across non-oil sectors contributed to Nigeria’s record export performance and reinforced the country’s attractiveness to investors.
