Nigeria’s non-oil export sector has reached a historic milestone, generating N9.2 trillion in the first nine months of 2025, a 48% increase from N6.2 trillion recorded during the same period in 2024, according to the National Bureau of Statistics (NBS). This surge highlights how the 2023 naira devaluation is reshaping the country’s external trade, making Nigerian goods more competitive on the global stage and boosting export revenues in naira terms.
The latest figures mark the strongest performance in non-oil exports since 2015, when the NBS began publishing consistent trade data. However, oil and gas remain the backbone of Nigeria’s export economy, accounting for the majority of foreign exchange earnings. While the growth in non-oil exports signals progress, the sector still faces structural limits in replacing the dominance of crude oil in the nation’s trade profile.
Monthly export data shows a striking rebound, with Nigeria averaging nearly N1 trillion per month in non-oil exports. July 2025 alone saw N1.23 trillion in receipts, followed by N0.88 trillion in August and N0.89 trillion in September. Analysts note that these figures are partially influenced by the weaker naira, which inflates export values in local currency terms even if volumes remain stable.
The composition of non-oil exports reveals a concentration in capital-intensive and energy-linked industries. In Q3 2025, products from the chemical sector generated N845 billion, prepared foodstuffs N692 billion, vehicles and aircraft parts N550.8 billion, and vegetable products N214.5 billion. Agricultural exports reached N786.6 billion, while raw materials accounted for N1 trillion, underscoring the uneven nature of Nigeria’s manufacturing and industrial base.
Despite the encouraging growth, Nigeria continues to import far more manufactured goods than it exports. In Q3 2025, manufactured exports totaled N2 trillion, while imports reached N4.75 trillion. This imbalance highlights that the non-oil export boom is driven by specific sectors rather than broad-based industrial diversification. Nevertheless, the record performance demonstrates Nigeria’s growing capacity to generate significant non-oil revenues under favorable conditions, signaling a potential new chapter for economic growth beyond oil.
source: nairametrics