Nigeria’s agricultural exports surged to 1.7 billion naira in the first quarter of 2025. A significant 65 per cent increase from 1.035 billion naira recorded in Q1 2024, and a 10.63 per cent rise from 1.54 billion naira in Q4 2024.
According to the Q1 2025 Foreign Trade in Goods Statistics published by the National Bureau of Statistics (NBS), total exports for the period stood at approximately 20.6 billion naira. A 7.42 per cent increase from 19.176 billion naira in Q1 2024, and 2.92 per cent higher than the 20.014 billion naira recorded in Q4 2024.
The primary export commodities were crude oil, liquefied natural gas, other petroleum gases in a gaseous state, Urea (whether or not in aqueous solution), and standard quality cocoa beans. Nigeria’s leading export partners were India, the Netherlands, the United States, France, and Spain.
Further analysis of the report showed that raw material exports in Q1 2025 stood at ₦1.044 billion, representing a rise of 196.12 per cent from ₦352.75 billion in Q1 2024 and 55.65 per cent from ₦671.12 billion in Q4 2024. This signals a rise in foreign countries’ appetites for the country’s raw materials.
Solid mineral exports in Q1 2025 were valued at ₦58.87 billion, a 7.17 per cent decrease from ₦63.41 billion in Q1 2024 and a 3.03 per cent decrease from ₦60.70 billion in Q4 2024.
The value of manufactured goods exports in Q1 2025 was ₦294.43 billion, reflecting a 9.58 per cent increase from ₦268.70 billion in Q1 2024 and a decrease of 40.43 per cent from ₦494.22 billion in Q4 2024.
Revealing low crude oil production due to local challenges, crude oil exports in Q1 2025 were valued at ₦12.955 billion, down 16.35 per cent from about ₦15.5 billion in Q1 2024 and 6.01 per cent from ₦13.8 billion in Q4 2024.
Other oil product exports in Q1 2025 stood at ₦4.475 billion, an increase of 134.24 per cent from ₦1.910 billion in Q1 2024 and 32.07 per cent from ₦3.388.80 billion in Q4 2024.
Total Exports accounted for 57.18% of total trade in the first quarter 2025.
Exports by section revealed that Nigeria exported mainly ‘mineral products’ valued at ₦17.555 billion, or 85.23 per cent of the total export value, this was followed by exports of ‘Prepared foodstuffs: beverages, spirits, and vinegar; tobacco’ worth ₦1.429 billion or 6.94 per cent of total exports and ‘Products of the chemical and allied industries’ with ₦869.50 billion or 4.22 per cent of the value of total exports.
Nigeria’s regional export trade reveals Europe as the primary destination, accounting for ₦8.642 billion (41.96%) of total exports. Asia follows, with exports valued at ₦6.753 billion (32.79%), and America ranks third, receiving ₦3,329.45 billion (16.16%) in exports.
Exports to Africa totalled ₦1.854 billion, representing 9.0% of all exports. Of this, ECOWAS countries received ₦1.067 billion, making up 57.58% of the total exports to Africa.
Source: Channels
