Nigeria’s exports remain oil-dominated, but non-oil exports are steadily rising—reaching up to 18% in early 2025

  • Oil exports continued to dominate, averaging over 88% of total exports in 2024 and remaining above 81% in the first half of 2025.
  • Non-oil exports rose gradually, from a low of 6.9% (February 2024) to a high of 18.1% (January 2025).
  • Peaks in non-oil export contributions occurred in July 2024 (16.4%) and January–April 2025 (13–18%), indicating progress toward diversification.
  • Total exports remained heavily oil-driven, though sustained double-digit non-oil shares in late 2024 and early 2025 show a slow shift.

Nigeria’s exports remain heavily reliant on oil, but non-oil exports are gaining traction. In 2024, non-oil contributions ranged from 6.9% in February to 16.4% in July, with double-digit shares maintained in the second half of the year. Early 2025 saw non-oil shares reach 18.1% in January and stay above 11% through June, highlighting gradual diversification beyond oil.

Source:

National Bureau of Statistics (NBS)

Period:

January 2024-June 2025
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The U.S. consistently leads Nigeria’s imports from the Americas, accounting for 57–73% in 13 years
  • The U.S. consistently leads Nigeria’s imports from the Americas, accounting for 57–73% between 2013 and 2025.
  • Brazil ranks second, with shares ranging between 11% and 24%, highlighting its steady trade ties with Nigeria.
  • During the period, the combined share of the U.S. and Brazil never fell below 76%, even at its lowest point in 2022.
  • Total imports from the Americas surged from ₦0.9 trillion in 2013 to a peak of ₦6.3 trillion in 2024.
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  • The share declined to 32.4% in H1 2025, showing a reversal after the 2024 peak.
  • Total import values grew sharply, from ₦209.6B in H1 2020 to ₦1.8T in H1 2025.
  • In H1 2019, ECOWAS already had a decent share of 19.6%, showing long-standing but fluctuating trade ties.
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  • The non-oil share reached 13.1% in 2019 before dipping and rebounding by 2025.
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