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Nigeria’s non-oil exports rose from $2.97bn in 2013 to a record $6.1bn in 2025, while the number of export markets increased from 93 to 210.
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Nigerian exporters added 117 markets over the period, including Nepal, Sri Lanka, Oman, Vietnam, Rwanda, Hungary and other destinations outside the country’s traditional markets.
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Despite the expansion, high power, financing and logistics costs remain major obstacles to turning wider market access into sustained export and industrial growth.
August 10, (THEWILL) — Nigeria’s non-oil exporters expanded their reach to 117 additional international markets between 2013 and 2025, as the country intensified efforts to diversify exports and increase the value of processed products.
Data from the Nigerian Export Promotion Council showed that non-oil exports increased from $2.97bn in 2013 to a record $6.1bn in 2025.
Over the same period, the number of export markets served by Nigerian businesses rose from 93 to 210.
Newer destinations identified in NEPC records and industry data include Nepal, Sri Lanka, Oman, Vietnam, Rwanda, Lesotho, Hungary, Nicaragua and São Tomé and Príncipe.
The expansion reflects efforts to reduce Nigeria’s reliance on raw commodity exports while creating opportunities for manufacturers and processors to reach more international buyers.
Trade agreements create new opportunities
Nigeria’s participation in regional and continental trade agreements has also helped expand the potential market available to exporters.
The ECOWAS Trade Liberalisation Scheme facilitates the movement of qualifying goods within West Africa without customs duties and tariffs, while the African Continental Free Trade Area creates access to a much larger continental market.
AfCFTA brings together 54 African countries, representing about 1.4 billion people and a combined GDP of $3.4tn.
Executive Secretary of the Manufacturers Association of Nigeria Export Group, Dr Ben Obhiosa, said the continental agreement was opening markets that were previously less accessible to Nigerian businesses.
“New export frontiers have been created due to Nigeria’s participation in AfCFTA”, he said.
He noted that Nigerian companies were already exporting products including hair, clinker and food to Ghana, Kenya and other African markets.
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Exports hit record $6.1bn
Nigeria’s non-oil export earnings have recovered significantly after falling to about $612m following the $2.97bn recorded in 2013.
The sector later recovered to about $3bn in 2021 before reaching the record $6.1bn in 2025.
NEPC Executive Director and Chief Executive Officer, Nonye Ayeni, described the 2025 figure as the highest formally documented non-oil export value recorded since the council’s establishment nearly five decades ago.
According to Ayeni, the growth reflected stronger activity across several value chains, supported by wider market access and greater product diversification.
READ ALSO: Non-Oil Exports Boost Nigeria’s FX Earnings As Trade Value Hits $6.1bn In 2025 – NEPC
High costs threaten export gains
Despite the progress, Nigerian exporters continue to face structural challenges that could limit their ability to take full advantage of the additional markets.
Power remains a major constraint, with Nigerian manufacturers spending about ₦1.4tn on alternative power generation in 2025.
Financing costs are another challenge, with commercial bank lending rates for manufacturers reaching between 29 percent and 45 percent annually.
MAN Director-General, Segun Ajayi-Kadir, called for affordable long-term financing to help manufacturers expand production.
“Government should demonstrate its commitment to economic diversification by establishing independent, transparently managed transmission channels capable of delivering genuine, single-digit interest rates directly to domestic manufacturers”, he stated.
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, also called for reliable electricity, improved rail infrastructure and stronger development finance institutions.
For Nigeria, expanding from 93 to 210 export markets is significant. But the bigger challenge is ensuring that local businesses have the power, financing and infrastructure needed to supply those markets competitively and consistently.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
