Amid rapid expansion in Nigeria’s non-oil exports, there are indications that local operators in the sector are losing out to their foreign counterparts, especially those from Asian countries, notably, Indians, Chinese, Lebanese and Vietnamese.
Also industry operators have indicated that the expected economic benefits of a diversification from oil-dependent to non-oil export are being lost to the business model deployed by the foreign operators.
Reports from the National Bureau of Statistics, NBS, and appraisal by the Nigerian Exports Promotion Council, NEPC, has shown that with steady growth, Nigeria’s non-oil earnings had surged to N4.8 trillion in the first half of 2025, up by over 391% from N977 billion recorded in the corresponding period of 2021.
For the NEPC, this result validates President Bola Tinubu’s “Renewed Hope Agenda.”
NEPC’s Director General, Nonye Ayeni, speaking on the H1 2025 report, stressed: “We are seeing positive dividends of the President’s policies. Our mandate is to sustain momentum by working with the Ministry of Trade and Industry, the players and stakeholders to provide incentives that encourage more exports.”
