Nigeria’s non-oil export sector recorded significant growth in 2024, reaching a total value of $5.45 billion, representing a 20.7% increase from the previous year, according to the Nigerian Export Promotion Council (NEPC).
Speaking at the Ministry of Industry, Trade, and Investment’s 2025 roadmap presentation in Abuja, NEPC’s Executive Director, Dr. Nonye Ayeni, highlighted that Nigeria’s trade volume hit 7.2 million metric tons while expanding exports to 126 countries worldwide.
“This is a clear indication that Nigeria is making remarkable progress in diversifying its economy away from oil dependence,” Ayeni stated.
Boosting Export Capacity and Market Access
To strengthen Nigeria’s export capabilities, the NEPC conducted over 629 capacity-building programs in 2024, working alongside development agencies to enhance exporters’ competitiveness. The council is also committed to providing international certifications to Nigerian exporters free of charge, enabling them to access premium markets globally.
Furthermore, NEPC is connecting Micro, Small, and Medium Enterprises (MSMEs) with experienced exporters, offering training programs aimed at increasing the quality and value of Nigerian exports.
Key Export Trends and Trade Surplus
- Nigeria’s total exports in Q1 2024 were valued at N19.17 trillion, a 51% increase from the previous quarter.
- Major non-oil exports included sesamum seeds, urea, and high-quality cocoa beans.
- Nigeria recorded a trade surplus of N6.52 trillion, marking a significant recovery from previous trade deficits.
- France, Spain, the Netherlands, India, and the U.S. were among the top destinations for Nigerian exports.
A Step Towards Economic Diversification
With strong export performance and ongoing initiatives to empower Nigerian exporters, NEPC remains focused on sustaining growth in non-oil sectors. “By strengthening market access and boosting production standards, Nigeria is well on its way to becoming a global player in non-oil exports,” Ayeni emphasized.
The latest figures reaffirm Nigeria’s progress toward economic diversification, reducing reliance on crude oil and unlocking opportunities for long-term trade expansion.
