Policy changes, value addition and export capacity building drive record performance under Tinubu administration
Nigeria recorded a 21 per cent increase in non-oil exports in 2025, with export earnings rising to $12.8 billion, following a series of policy reforms implemented by the Federal Ministry of Industry, Trade and Investment (FMITI).
The growth was attributed to improvements in export procedures, targeted trade reforms, and increased value addition across key non-oil sectors, according to the ministry’s 2025 performance review and outlook for 2026.
The report noted that the strong showing in non-oil exports mirrored a wider expansion in Nigeria’s trade activity, with total trade value increasing by 14 per cent during the period.
According to the ministry, 2025 represented a pivotal year in Nigeria’s economic repositioning under the Renewed Hope Agenda of President Bola Ahmed Tinubu, as reforms aimed at boosting industrial output, expanding export capacity, and restoring investor confidence began to yield measurable results.
“Non-oil exports grew by 21 per cent to reach $12.8 billion in the first half of 2025, nearly doubling the $6.5 billion target, and contributing to a N12 trillion trade surplus within the same period,” the ministry stated.
The review identified Nigeria’s leading non-oil export products as cocoa and cocoa derivatives, sesame seeds, cashew nuts, shea butter, ginger, hibiscus flower, rubber, palm oil derivatives, fertilisers, cement and clinker, alongside liquefied natural gas.
Export capacity was further strengthened through collaboration with the Nigerian Export Promotion Council (NEPC). As part of the partnership, 27,352 exporters were trained, 200 micro, small and medium enterprises (MSMEs) were certified for international trade, and 3,047 farmers received support in the form of hybrid seedlings.
The ministry also highlighted the impact of the Women Export Fund, which expanded access to trade finance for women-owned businesses. The initiative attracted over 67,000 applications, with 146 women-led enterprises ultimately awarded grants.
Nigeria’s Special Economic Zones were also cited as major contributors to export growth. According to the report, the zones generated over $500 million in export revenue and created more than 20,000 direct jobs through activities coordinated by the Nigerian Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority (OGFZA).
Beyond exports, the ministry said it recorded notable progress in investment attraction during 2025, driven by a systems-based approach that improved project visibility, reduced information gaps, and enhanced the bankability of proposed investments.
This approach yielded tangible outcomes, with four priority investment projects valued at $13.7 billion advancing to late-stage development. The figure represents a conversion rate of over 25 per cent from $50.8 billion worth of signed Memoranda of Understanding.
According to the ministry, Nigeria adopted a more strategic and proactive stance in engaging investors, responding to global economic challenges while reinforcing the message that the country remains open for business.
Through structured deal origination, the ministry said it built a de-risked investment pipeline exceeding $5 billion across priority sectors, supported by targeted investment roadshows, curated deal rooms, and coordinated investor engagement.
Additional data cited in the review showed that non-oil exports reached N9.2 trillion in the first nine months of 2025, representing a 48 per cent increase compared to the previous year. The growth was partly driven by currency reforms, as the naira devaluation improved the global competitiveness of Nigerian products.
Agricultural commodities continued to dominate export volumes, with cocoa, urea fertiliser, and cashew nuts ranking as the top products. However, the ministry noted a gradual shift toward semi-processed and value-added goods, despite persistent challenges related to infrastructure and port efficiency.
Figures from the first half of 2025 showed non-oil exports rising by 19.6 per cent to $3.25 billion, compared to the same period in 2024. Cocoa beans accounted for 34.88 per cent of exports, followed by urea and fertiliser at 17.65 per cent, cashew nuts at 12.35 per cent, and sesame seeds at 4.23 per cent.
The report also highlighted growing export diversification, with 236 distinct products exported in the first half of 2025, up from 202 products in the same period of 2024.
According to the ministry, continued policy support, improved trade facilitation, and sustained reforms by agencies such as the NEPC are expected to further strengthen Nigeria’s non-oil export performance in the coming years.
