Nigeria’s effort to diversify exports beyond oil gained momentum in 2025, with non-oil export earnings rising to $8.93 billion from $6.57 billion a year earlier. Agriculture played a central role, accounting for just over 41% of shipments abroad. Cocoa led the charge, contributing nearly 25% of total non-oil exports, while cashew posted explosive growth, with shelled cashew exports nearly doubling. Overall export volumes also climbed about 10%, suggesting the surge was driven not only by higher prices but by larger shipments. Still, analysts note that Nigeria’s export basket remains concentrated in a few commodities, leaving earnings vulnerable to global price swings even as opportunities grow in value-added processing and diversification.
Nairametrics
