Nigeria’s non-oil exports have seen a significant surge, rising by 19.6 per cent to reach $3.225 billion in the first half of 2025.
This notable growth has been largely driven by robust global demand for key commodities including cocoa, urea and fertiliser, and cashew nuts.
The Lagos Chamber of Commerce & Industry (LCCI) highlighted these figures in a new report, commending the federal government for the outcomes of President Bola Tinubu’s recent diplomatic engagements in Brazil and Japan.
Dr. Chinyere Almona, the LCCI’s Director-General, stated, “With Nigeria’s non-oil exports rising by 19.6 per cent to $3.225 billion in the first half of 2025, driven by global demand for products such as cocoa, urea/fertiliser, and cashew nuts, we need to remain focused on supporting these statistics by creating new market routes to new trade partners.”
She also pointed to an increase in the volume of exports, noting it “shows an increased capacity to process non-oil exports and boost our export earnings.”
However, the report also struck a note of caution regarding foreign exchange inflows.
Almona observed that “the decline in export revenues from the U.S. and the current volatility in crude oil prices may pose challenges for foreign exchange inflows in the short term—especially when dollar liquidity is critical.”
This situation, she argued, “underscores the need for Nigeria to diversify and strengthen its non-oil exports and intra-African trade.”
In response, the LCCI praised recent strategic moves, particularly the Bilateral Air Service Agreement (BASA) signed with Brazil, calling it “a notable step forward.”
The chamber believes this pact, facilitating direct flights, “has the potential to expand export markets and enhance tourism and cultural exchange,” while also creating opportunities in technical fields like aerospace engineering.
Reflecting on partnerships with Japan, Almona also expressed gratitude for a $238 million framework to upgrade Nigeria’s electricity grid, emphasising that such investments are “pivotal in equipping Nigeria’s youth with the vocational and technical skills needed to thrive.”
She concluded that it is imperative to cultivate an environment that encourages investors “to contribute to creating lasting value.”
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