By Gabriel Ani
ABUJA, Nigeria (chatnewstv.com) — Nigeria’s decades-long effort to diversify its economy away from crude oil reached a milestone in 2025, with non-oil exports surging to a record $6.1 billion, officials announced Monday.
The figure represents an 11.5% increase over the $5.4 billion recorded in 2024 and stands as the highest value of documented non-oil trade since the Nigerian Export Promotion Council (NEPC) was established nearly 50 years ago.
Nonye Ayeni, the executive director of the NEPC, disclosed the results during the council’s annual progress report in Abuja. She described the performance as a “watershed moment” that validates ongoing policy reforms and increased private-sector engagement.
“Nigerian non-oil export performance in 2025 reached an all-time high,” Ayeni said. “This marks the highest non-oil export value achieved in the country for formal documented trade. We have indeed beaten our own records.”
For decades, Africa’s largest economy has been tethered to the volatility of global oil prices, which dictate the nation’s foreign exchange reserves and fiscal stability. The 2025 surge suggests a structural shift is taking hold, with growth spread across agricultural commodities, processed goods, and solid minerals.
The volume of exports also saw a significant jump, rising to 8.02 million metric tonnes from 7.29 million the previous year. Ayeni noted that Nigeria exported 281 distinct products in 2025, signaling deeper integration into global value chains.
“This reflects our steady transition towards value-added exports,” Ayeni said.
Despite the record-breaking figures, officials say the data only tells part of the story. A significant portion of Nigerian trade occurs informally across land borders in West and Central Africa, remaining undocumented in official national statistics. Ayeni said the council is working with the Central Bank of Nigeria and the National Bureau of Statistics to bring more of this informal trade into the light.
Economic analysts view the surge as a critical boost for the naira, which has faced persistent pressure. By strengthening non-oil foreign exchange earnings, the government hopes to build a more resilient macroeconomic framework that is less susceptible to external shocks in the energy market.
Looking ahead to 2026, the NEPC plans to expand export incentives and streamline logistics to sustain the momentum.
“The achievement was not incremental but historic,” Ayeni said. “It represents the highest value of formally documented non-oil exports since the council’s inception.”
