Cocoa set to rise again, accounts for 45% of non-oil exports – NEPC

• The Nigerian Export Promotion Council has revealed the database of apical non-oil exports for January to March 2025
• This database shows that definite products are consolidating their positions, portion a fewer others are coming into the list
• Based connected this report, Cocoa is rising to go Nigeria's apical non-oil export, with astir fractional of the full non-oil exports originating from it

Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.

Nigeria’s effort to diversify the economy distant from crude lipid is paying off, and caller information released by the Nigerian Export Promotion Council (NEPC) shows a large surge recorded successful the archetypal 4th of 2025.

The information released connected Monday shows that non-oil exports for the 4th reached an awesome $1.791 billion.

This marks an awesome 24.7% maturation from the $1.436 cardinal recorded successful the archetypal 4th of 2024.

Nigeria is looking to go 1 of the apical players successful the planetary cocoa marketplace again Photo credit: Pius Utomi Ekpei
Source: AFP

Speaking astatine a property briefing, Executive Director of the council, Nonye Ayeni, explained that the maturation can beryllium seen some successful the worth and the volume.

Year connected year, the measurement of non-oil exports grew from 1.937 cardinal metric tonnes (MT) successful Q1 2024 to 2.416 cardinal metric tonnes successful 2025.

This represents a 19.82% maturation successful the volume, year-on-year.

NEPC unveils database of apical commodities, exporters

According to the NEPC boss, the large exports dwell of manufactured goods and semi-processed items crossed cultivation commodities and concern extracts.

At the apical of the database is Cocoa and respective of its derivatives similar cocoa butter, cocoa cake, and cocoa liquor. Together, they relationship for implicit 45% of the full non-oil exports, the PUNCH reports.

Second connected the database is Urea and Fertiliser, accounting for 19.32% of full non-oil exports.

Cashew nuts are besides up connected the list, present accounting for astir 5.81% of Nigeria’s non-oil exports.

Expectedly, the companies dealing successful cocoa products and fertilisers are Nigeria’s apical exporters.

According to the NEPC Boss, Indorama Eleme Petrochemicals Fertilizer Chemical Limited remains the apical non-oil exporter with 12.07% of the full non-oil exports for the quarter.

The adjacent is Starlink Global and Ideal Limited, with 10% of full non-oil exports.

NEPC reports 20.79% maturation successful non-oil exports

Recall that NEPC had reported a full of $5.456 cardinal successful non-oil exports for the full of 2024, an awesome 20.79% maturation from the erstwhile year.

This, according to the council, is simply a validation of the government’s diversification efforts distant from dependence connected crude lipid revenues.

Marketers person projected 2027 arsenic the twelvemonth Nigeria volition go a nett exporter of refined petroleum products.

CBN shares database of apical non-oil exporters

Recall that the Central Bank of Nigeria released the database of immoderate of Nigeria's apical non-oil exporters successful October 2024.

Several individuals tally backstage cocoa businesses successful Nigeria, with claims of earning important gross connected the product. Photo credit: Contributor
Source: AFP

At the apical of the database were Dangote Fertilizer Ltd. and Indorama Eleme Fertilizer & Chemical Ltd, with urea and fertilisers arsenic their large exports.

Dangote Fertiliser Ltd accounted for 8.72%, portion Indorama accounted for 18.97%. Also connected the database was Outspan Nigeria Ltd. (8.45%) with its cocoa exports, Starlink Global & Ideal Ltd (7.35%) with dairy products, and Olatunde International Ltd. (5.96%) with cocoa legume exports.

CPPE reacts to export regularisation bill

The Centre for the Promotion of Private Enterprise (CPPE) has raised beardown objections to a projected measure by the National Assembly that mandates 30% section worth summation earlier earthy materials tin beryllium exported from Nigeria.

The backstage deliberation vessel organisation said the determination by the National Assembly could wounded Nigerian exporters and outgo thousands of jobs.

CPPE added that the measure ignored captious challenges encountered by manufacturers successful Nigeria.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng