Nigeria exported non oil products valued at $1.791 billion in first quarter of 2025, an increase of 24.75% over and above US$ 1.436 billion reported in the First Quarter of the year 2024, Executive Director/ Chief Executive Officer, Nigeria Export promotion Council ( NEPC) Mrs. Nonye Ayeni confirmed on Monday.
She said the exported volume also increased to 2.416 million metric tonnes , an increase of 243.44% from 1.937 million metric tons recorded in first quart quarter.. Addressing the media in Abuja, Nonye said in the reviewed quarter, a total 197 distinct products were exported, reflecting an increase compared to 162 products recorded in the First Quarter of 2024.
The exported products ranged from manufactured and semi-processed goods, to industrial extracts, and agricultural commodities, amongst others.
The exports traversed diverse regions, including Africa, the Americas, Asia, Europe, and Oceania. Notably, the Netherlands, Belgium, and Brazil emerged as the top three countries in terms of the export values of non-oil products from Nigeria
Based on information received from Pre-shipment Inspection Agents (PIAs), of the top-20 products exported in the first quarter of 2025, Cocoa and its derivatives including cocoa butter, cocoa liquor, cocoa cake came first, followed by Urea, Cashew Nut, Sesame Seed, Gold Dore, Cocoa Butter, Aluminium Ingots, Copper Ingot, Soya Beans/meal, Rubber were the top of the list.
The top commodity in terms of total non-oil export, accounting for 45.02% was Cocoa Beans. Urea/Fertilizer held the second position at 19.32% while Cashew nuts came third with 5.81% of the total exported products.
“The year 2024 result lends credence to the fact that several export intervention programmes/projects initiated and executed by the Council, especially the “double your exports” campaign, is now yielding results. non-oil activities performance for the first wuarter of 2025 “.
NEPC boss identified top 20 export companies to include, Indorama Eleme Fertilizer and Chemical Limited and Starlink Global & Ideal Limited maintained their position as the first and second with 12.07% and 10.00%, respectively. She attributed their ranking to notable export values of fertilizer and Cocoa products.
In the first quarter of 2025, Nigeria exported to 10 African countries of ECOWAS that actively engaged in importing Nigerian products . These exports, totaling 362,126.92 metric tons amounted to$ 63.060 million, constituted 3.52% of the total export value and also a significant increase of 223.10% when compared to the recorded figure of US$ 19.517 million for the First Quarter of the year 2024.
Nigeria also exported to other African countries in the first quarter of 2025. The value of these exports, totaling 281,480.29 metric tons valued $ 32.732 million, represented 1.83% of the total export value.
“These are evidence to show that the non-oil export is increasing and all stakeholders are taking advantage of the potentials and opportunities inherent in the sector. It also lays credence to the fact that AFCFTA holds the key to Intra African trade as it promises to be the largest free trade area in the world both by area and by the number of countries, connecting the 55 countries in Africa with 1.3million people. The Council isc working with various stakeholders and the Federal Ministry of industry, Trade and Investment, is working very hard to ensure that Nigeria becomes a hub and takes its position as the Giant of Africa”, she said.
On banks’ performance during the period, she said a total of 485 NXPs were processed involving 28 banks.
Zenith Bank Plc maintained its leading position, contributing 30.71% to the total number of NXPs for non-oil export. First Bank of Nigeria Plc secured the second position with 14.22%, while Guaranty Trust Bank Plc came third, contributing 8.89% to the overall NXP transactions respectively.