Nigeria has reported a 19.59% year-on-year increase in non-oil export revenue to $3.22 billion in the first half (H1) of 2025, up from $2.69 billion in the same period of 2024.
The surge is attributed to increased market access, the rise in value-added exports, and the benefits derived from the African Continental Free Trade Area (AfCFTA) agreement, according to the Nigerian Export Promotion Council (NEPC).
Nonye Ayeni, Executive Director/Chief Executive Officer of the NEPC, announced the growth in a statement released on Sunday.
Export volumes grew to 4.04 million metric tonnes from 3.83 million metric tonnes in the first half of 2024.
“This growth reflects the combined impact of several factors, including higher global demand for Nigerian products, wider market access facilitated by the AfCFTA, and efforts by the NEPC to improve the quality of exports through targeted capacity-building programs,” Ayeni stated.
The rise in non-oil export revenue was largely driven by Nigeria’s focus on value-added products, with more exporters adopting value addition practices in sectors like agriculture, manufacturing, and semi-processed goods.
Also, demand from emerging markets such as India, Brazil, Vietnam, and other African countries played a critical role in driving the increase.
Sectoral Growth and Diversification
According to the NEPC, Nigeria’s non-oil export basket has diversified significantly in 2025. While traditional agricultural exports remain key, there has been a noticeable shift towards semi-processed and manufactured products.
In total, 236 different products were exported in the first half of 2025, an increase of 16.83% from the 202 products recorded in the same period in 2024.
The expansion of exportable products underscores the success of NEPC-led interventions aimed at improving packaging, labeling, export documentation, and certifications.
Ayeni pointed out that the Nigerian government’s emphasis on capacity building in these areas has been a vital driver of growth.
Fertilizers and Cocoa Lead the Charge
In terms of volume and value, key players in the Nigerian export sector include Indorama Eleme Fertiliser and Chemical Limited, Starlink Global, and Ideal Limited, who retained their positions as the top two exporters, contributing 11.92% and 8.82% of total exports, respectively.
Dangote Fertilizer Limited came third, contributing 6.39%, driven by strong sales of fertilizers and cocoa products.
The rise in exports of fertilizers is particularly noteworthy as it aligns with Nigeria’s efforts to position itself as a leading exporter of agricultural and industrial commodities.
AfCFTA’s Impact on Export Growth
Ayeni also explained the important role the AfCFTA has played in facilitating Nigeria’s export growth, particularly to other African countries.
In the first half of 2025, Nigeria exported products worth 663 million metric tonnes and valued at $83.54 millio to 11 ECOWAS countries.
Also, Nigeria exported 488 million metric tonnes worth $83.54 million to 21 African countries outside ECOWAS, representing a 2.59% increase over the same period in 2024.
“The AfCFTA offers immense opportunities for Nigerian exporters, particularly small and medium-sized enterprises (SMEs), by providing tariff relief and wider market access,” Ayeni explained. “Nigeria’s growing exports to emerging economies and regional partners demonstrate the tangible benefits of our participation in this free trade area.”
Banking and Export Transaction Support
The NEPC’s efforts are also supported by the banking sector, which processed 10,214 Nigerian Export Proceed Forms (NXPs) for non-oil exports through 29 participating banks.
Zenith Bank led the charge, processing 31.98% of the total NXPs, followed by First Bank Nigeria and Guaranty Trust Bank with 12.44% and 11.47%, respectively.
Ayeni highlighted the importance of the NEPC’s collaboration with these banks in streamlining export transactions and ensuring a smooth flow of funds into the country.