NewStats: 3,261,377 , 8,173,834 topics. Date: Thursday, 29 May 2025 at 04:27 AM 2qml

The Nigerian Export Promotion Council (NEPC) has announced a significant increase in the country’s non-oil export earnings for 2024, reaching a total of $5.456 billion, representing a 20.77% rise from the $4.517 billion recorded in 2023.

The growth has been attributed to increased production, improved global demand for Nigerian exports, ed by economic recovery and strategic trade partnerships, government trade policies, and expanding global market access.

Speaking at the presentation of the 2024 Non-Oil Export Performance Report, Nonye Ayeni, Executive Director/CEO of NEPC, highlighted that Cocoa Beans and Urea/Fertilizer emerged as the top contributors to the sector’s revenue.

“Despite the economic realities and the global economic downturn, the Council through collaboration with other relevant agencies has contributed towards economic diversification with an impressive non-oil performance of $5.456 billion in 2024. It is worth noting that this reflects a significant increase of 20.77% (938.442 million) compared to the recorded figure of US$4.517 Billion for the preceding year of 2023,” Ayeni said.

Cocoa Beans ed for 30.55% of total non-oil exports, while Urea/Fertilizer contributed 15.74%, underscoring the pivotal role of agriculture and industrial exports in Nigeria’s economic diversification efforts.

She further attributed the growth to enhanced production in key sectors such as agriculture, solid minerals, and manufacturing, alongside trade policy reforms under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

On key drivers of growth, NEPC identified several factors that fueled the sector’s performance, including, Increased production of agricultural and industrial commodities such as Cocoa, Urea/Fertilizer, and Sesame Seeds.

Federal Government efforts to enhance trade policies and market access and increased participation in regional and international trade agreements.

“The impressive performance in 2024 reflects the success of our #doubleyourexport campaign, Export 35 Redefined initiative, and strengthened advocacy for non-oil exports,” Ayeni stated.

She added that a total of 246 distinct products were exported in 2024, spanning manufactured goods, semi-processed commodities, and raw materials. This is apart from Cocoa Beans and Urea/Fertilizer, Sesame Seeds, Cashew Nuts/Kernels, Aluminum Ingots, Cocoa Butter, Copper Ingots, Soya Beans/Meal, Gold Dore, and Hibiscus Flower ranked among the most exported products.

Cocoa Butter, in particular, witnessed a notable surge in demand, entering the top 10 export list due to improved processing and favorable market conditions.

Among exporting companies, Indorama Eleme Fertilizer and Chemical Limited and Starlink Global & Ideal Limited led the pack, with export earnings of $475.3 million (8.71%) and $456.7 million (8.37%), respectively. Their dominance was largely due to large-scale exports of Fertilizer and Cocoa products.

“Of the top 20 exporting companies in Nigeria, Indorama Eleme Fertilizer and Chemical Limited and Starlink Global & Ideal Limited secured the foremost position with $475,309,887.26, representing 8.71% and $456,740,920.00, representing 8.37% respectively. This is attributed to their notable export volumes of Fertilizer and Cocoa products,”

Ayeni acknowledged that Informal Cross-Border Trade (ICBT) plays a crucial role in Nigeria’s non-oil export landscape, with its contributions yet to be fully captured in official figures. She emphasized the need for improved mechanisms to integrate and record these transactions to reflect the true scale of Nigeria’s export potential.

“It is also interesting to note that there was an increase in the volume of agricultural commodities as non-oil export returns showed that 7.291 million metric tonnes of exportable products were exported in the period under review. More importantly, the result for 2024 would have been much more considering that the volume of Informal Cross Border Trade (ICBT) represents a reasonable percentage of our exports,”

Looking ahead with the positive trajectory of non-oil exports, the NEPC reaffirmed its commitment to strengthening export promotion strategies, increasing value addition in key commodities, and expanding market access through global trade partnerships.

The Council remains optimistic that with continued policy and private sector participation, Nigeria’s non-oil export earnings will sur current records in the coming years.

https://businessday.ng/business-economy/article/cocoa-fertiliser-lead-nigerias-non-oil-exports-with-5-46bn-shipment/

Good, Nigeria is working💯

Starlink Global & Ideal Limited led the pack, with export earnings of $456.7 million (8.37%)
That's a Nigerian Star!

That is about N800 billion revenue by a single company! A proudly indigenous Nigerian agricultural company founded by a Nonagenerian High Chief from Osun state.

FreeStuffsNG:

CHIEF R. A. ADENIJI: Chairman
Alhaji R.A. Adeniji, the Chairman of the company, was born in Odeomu in Ayedade Local Government Area of Osun State in September, 1932. He is a successful Business man, highly reputable in Agricultural produce.

He is the founder and Chairman of R.A. Adeniji Enterprises Nigeria Limited.
He started business in 1955 as a Local Buying Agent (LBA) and, with hard work and God’s guidance; he rose to his present enviable status as a foremost Licensed Produce Buyer in Nigeria. He founded Adeniji Agro Livestock Feeds in 1980 which was a major livestock feeds producer till 1984 before the ban on a major ingredient of the feeds by the Buhari-Idiagbon regime.

He remained focused on the business of Cocoa trading and founded Starlink Global Ideal Limited in 1999. He is currently the Chairman of Palm Produce & Cocoa Association of Nigeria (Osun State Branch), Chairman – Farmers Congress of Osun State, Member – Cocoa Farmers Association of Nigeria, and Member- Cocoa Development Committee established by President Olusegun Obasanjo’s istration in June, 2000. He is a community leader in Osun state and actively involved in cocoa procurement till date.

But Obidients were claiming were claiming we're earning less from exportation? In fact one of them created a thread claiming our earnings increased in naira but decreased when converted to dollar

Wow

Acekidc4:
Good, Nigeria is working💯

In your dream abi?

Cocoa is doing numbers around the world now.

SW governors should be keying into it well well with the private guys.

South west is truly one of the pillars in this country even without making noise at all. 99% of cocoa production for exportation is from South west. As well, they are not lagging behind in other agricultural product. Remove South west from this country then the country becomes insignificant. God bless all OMOLUABI.

We should do better in gold, palm oil/kernel, gem stones, lithium and others too.

We used to export rubber in the old days of Western Region. I still wonder why we can't make tyres here instead of importing substandard products from China.

Na Ondo state still get the cocoa
Olodumare bless yoruba land

Nigeria will be great again

Is Cocoa or fertilizer produced in the SE?


Useless Parasites!

That's great , time to diversify Nigeria is a blessed land

Why are we exporting fertilizer when we don't have enough

I see lies

Please can someone convert that to naira for me please? I beg

This is good news, an individual effort without the federal government input. Imagine the federal government showing interest in agriculture. It would have facilitated the recovery of our ailing economy. Only buhari made some effort

Acekidc4:
Good, Nigeria is working💯

That in 2025 we still export raw materials?

HITdemUP:
Why are we exporting fertilizer when we don't have enough

Tell me the part of Nigeria that don't have enough fertilizer or you just spreading cheap propaganda

haconjy:
I see lies

Please can someone convert that to naira for me please? I beg

As per say you no sabi use calculator or what?

S

Zico5:
South west is truly one of the pillars in this country even without making noise at all. 99% of cocoa production for exportation is from South west. As well, they are not lagging behind in other agricultural product. Remove South west from this country then the country becomes insignificant. God bless all OMOLUABI.

Clown. Cross river state produces more than 80% of cocoa exported from Nigeria. Go make ur findings

How is Gpd measured and how do we have South East states in top spots?? Or was the list fabricated

tito44:

Smh. This is ignorance mixed with obscene pride.
Not even indigenes of Cross Rivers state will be this recklessly ignorant.

Southwest is the headquarters of Cocoa in Nigeria. It didn’t start today. It has been so even before independence.

The Founder of Starlink Global & Ideal Limited started trading in Cocoa in 1948 and trades in the South West. This is why the Southwest economy was built on Cocoa.

LegendHero:
Cocoa is doing numbers around the world now.

SW governors should be keying into it well well with the private guys.

Of course, Cocoa is our thing....All our Southwest Governors need to do the necessary. Especially Ondo and Ekiti , that's the major cocoa farming Hub. ....
They should revisit Awolowo template about Cocoa farming .

FreeStuffsNG:
Smh. This is ignorance mixed with pride

Never you in your life quote me again. Zombîes bore me

lekanation:
How is Gpd measured and how do we have South East states in top spots?? Or was the list fabricated

Don't mind those dot region with their chest beating and global developer mentality .

Zico5:
South west is truly one of the pillars in this country even without making noise at all. 99% of cocoa production for exportation is from South west. As well, they are not lagging behind in other agricultural product. Remove South west from this country then the country becomes insignificant. God bless all OMOLUABI.

You are not far from the truth. That's why we really need to key back into our cocoa farming. It is our thing in the Southwest . Especially Ondo and Ekiti state.
I , when I visited a cocoa farm in Ondo state in 1986. Men, there is money in Cocoa farming. Serious money.

Nigeria and lamba. You made all these dollars in non oil export and more dollars in gas and oil revenue. Customs and firs exceeded their target. You claim to have positive balance of trade for 3 consecutive quarters. Yet your currency is not appreciating, you are taking every available loan. You even need to borrow 14 trillion to finance budget deficit. Lamba is deadly

https://veggieconcept.ng/which-state-is-the-largest-producer-of-cocoa-in-nigeria/

tito44:


Clown. Cross river state produces more than 80% of cocoa exported from Nigeria. Go make ur findings

Cross River indeed. Google is ur friend if u truly want to learn. Even Cross river can never argue about cocoa production with south west not to talk of producing 80%. South West cocoa producers include Ekiti, Osun, Ondo and Oyo state. How on earth can Cross rivers that no one has ever heard or read about now produce 80% where these signicant state stand. You are truly deluded. This is for you if you want to learn.

Great100000:
Among exporting companies, Indorama Eleme Fertilizer and Chemical Limited and Starlink Global & Ideal Limited led the pack, with export earnings of $475.3 million (8.71%) and $456.7 million (8.37%), respectively. Their dominance was largely due to large-scale exports of Fertilizer and Cocoa products.

“Of the top 20 exporting companies in Nigeria, Indorama Eleme Fertilizer and Chemical Limited and Starlink Global & Ideal Limited secured the foremost position with $475,309,887.26, representing 8.71% and $456,740,920.00, representing 8.37% respectively. This is attributed to their notable export volumes of Fertilizer and Cocoa products,”

Would we have this good news if Atiku and Obasanjo’s PDP didn’t privatise the petrochemicals division of NNPC to Indorama

This is good news
. There is hope.

I expect this figure to grow further when Dangote exports more fertiliser and petrol this year.