Nigeria’s non-oil exports rise 21% as diversification efforts gain traction

Nigeria’s non-oil export sector recorded a 21 per cent increase, signalling growing momentum in the country’s economic diversification strategy, according to figures released today by the Ministry of Industry, Trade and Investment.

Officials said the growth reflects stronger engagement with global trade partners and improved coordination between export agencies and private sector operators.

Investment pipeline strengthens

The ministry confirmed that four priority investment projects valued at $13.7bn are progressing towards implementation. These projects span agro-processing, manufacturing, and solid minerals sectors, which are identified as critical to foreign exchange stability.
Authorities noted that export expansion is being driven by targeted incentives, trade facilitation reforms, and improved access to international markets.

Foreign exchange implications

Non-oil exports remain vital as Nigeria continues to manage foreign exchange pressures. Increased export receipts help stabilise currency supply and reduce reliance on crude oil revenues, which remain exposed to global price volatility.

Trade experts say the latest figures suggest a gradual improvement in export competitiveness, though logistics costs and port inefficiencies still constrain growth.

Challenges remain

Despite the gains, exporters continue to face hurdles, including high shipping costs, quality certification requirements, and limited processing capacity. Industry groups stress that sustained growth will depend on infrastructure upgrades and consistent export-friendly policies.

Prospects for SMEs

For small and medium-scale producers, non-oil export growth presents opportunities to scale production and access foreign markets. However, experts caution that without improved financing and logistics support, many SMEs may struggle to participate meaningfully.
The export rise marks progress, but sustainability will depend on execution.