Non-oil export records 24.7% surge, hits $1.7bn

Non-oil export records 24.7% surge, hits $1.7bn

In 2024, Nigeria recorded a significant boost in its non-oil export sector, with total exports reaching $5.456 billion. This figure represents a 20.79% increase compared to the previous year. 

According to the Executive Director of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, the growth was primarily driven by substantial exports of fertilizer and cocoa products. 

The products exported, she noted, ranged from manufactured and semi-processed goods to industrial extracts and agricultural commodities.

Cocoa and its derivatives, including cocoa butter, cocoa liquor, and cocoa cake, emerged as the leading non-oil exports, accounting for over 45% of the total. Urea and fertilizer followed closely, contributing 19.32%, while cashew nuts made up 5.81%.

The NEPC emphasized that this strong performance reflects the effectiveness of strategic efforts to diversify Nigeria’s economy, reducing its heavy reliance on crude oil revenues.