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88% of Nigeria's 2024 exports came from crude oil and co., 5.73% from agriculture
Key Takeaways:
  • Petroleum products (crude oil and other oil products) dominated Nigeria's export landscape in 2024, accounting for 88.26% of total export value.
  • Agricultural exports contributed 5.73% to export value, despite Nigeria's significant agricultural potential.
  • The manufacturing sector made up just 2.95% of the total export value.
  • Nigeria’s total export value reached ₦77.44 trillion in 2024 from ₦35.96 trillion in 2023.
  • Non-oil sectors collectively made up less than 12% of export value.

Over 80% of Nigeria’s imports in 2024 came from manufacturing and oil products
Key takeaways:
  • Manufactured goods accounted for 44.2% of Nigeria’s total imports.
  • Petroleum products (excluding crude oil) made up 38% of the import value.
  • Raw materials represented 11% of the total import value.
  • Agricultural imports contributed 6.2% to the overall import value.
  • The total import value stood at ₦60.59 trillion in 2024, from ₦30.86 trillion in 2023.
  • The energy resources sector made a negligible amount in import value, while no record was made for the crude oil sector.

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