The Nigeria Export Promotion Council (NEPC) has reported a significant increase in the country’s non-oil exports for the first quarter of 2025, with a total value of 1.791 billion dollars. This represents a 24.75% increase compared to the same period in 2024, where the value stood at 1.436 billion dollars.
Dr. Nonye Ayeni, Director-General of the NEPC, presented the progress report on Monday in Abuja, highlighting a substantial growth in both value and volume. The volume of non-oil exports reached 2.416 million metric tonnes, a remarkable increase of 243.44% from 1.937 million metric tonnes in Q1 2024.
In the first quarter of 2025, a total of 197 distinct products were exported, up from 162 in the same period last year. These products ranged from manufactured and semi-processed goods to agricultural commodities and industrial extracts. The report also noted that cocoa and its derivatives, including cocoa butter and cocoa liquor, topped the list of the top 20 products exported.
Notably, cocoa beans were the leading commodity in terms of value, accounting for 45.02% of the total non-oil export value. Urea and cashew nuts followed, representing 19.32% and 5.81% respectively. The top 20 leading export companies, such as Indorama Eleme Fertiliser and Chemical Ltd and Starlink Global and Ideal Ltd, contributed significantly to this growth, with their notable exports in fertiliser and cocoa products.
Dr. Ayeni also mentioned that 10 ECOWAS member countries were actively importing Nigerian products, contributing 3.52% to the total export value. Exports to other African countries amounted to 32.732 million dollars, representing 1.83% of the total.
The NEPC is working closely with the Ministry of Industry, Trade, and Investment to further boost non-oil export volumes and values, in line with President Bola Tinubu’s Renewed Hope Agenda.
Source: Swifteradio.com
