Nigeria’s emergence as a major global fertiliser exporter is reshaping the country’s non-oil export landscape, with earnings from urea shipments rising sharply between 2023 and the first quarter of 2026 to hit $2.216 billion (about N3.41 trillion), according to data from the World Bank, the National Bureau of Statistics (NBS) and other industry sources.
The growth has been driven largely by increased production capacity from major fertiliser manufacturers, including Dangote Fertiliser and Indorama-Eleme Fertiliser and Chemical Limited, as well as the expansion of export markets across Africa, Latin America and Asia.
Data from the international trade databases, industry reports and government agencies showed that Nigeria earned at least $474.56 million (about N730 billion) from fertiliser exports in 2023.
Earnings increased to more than $850 million (about N1.31 trillion) in 2024 before rising significantly in subsequent periods.
Trade statistics from the NBS showed that urea exports generated N1.37 trillion in the first quarter of 2026 alone, equivalent to about $890 million at an exchange rate of approximately N1,540 to the dollar. The figure represented an increase of about N519 billion compared with the N855.85 billion recorded in the first quarter of 2025.
