Nigeria’s Agricultural Exports Surge by 65% in Q1 2025

 Nigeria’s agricultural exports soared by 65% in the first quarter of 2025, reaching $2.1 billion, according to a report by the Nigerian Export Promotion Council (NEPC). The surge, announced on Monday, June 16, reflects the country’s push to diversify its economy away from oil, with cocoa, sesame seeds, and cashew nuts leading the export boom. The achievement has been hailed as a milestone in President Bola Tinubu’s economic diversification agenda.

NEPC Executive Director, Nonye Ayeni, attributed the growth to improved access to international markets, government incentives, and investments in agro-processing. “Our farmers and exporters are rising to the challenge, with cocoa alone accounting for $800 million in Q1,” Ayeni said at a press briefing. Other key exports included hibiscus, soybeans, and shea butter, with the United States, China, and the Netherlands as top destinations. The African Continental Free Trade Area (AfCFTA) has also boosted intra-African trade, with Ghana and South Africa emerging as significant buyers.

The growth follows Tinubu’s 2024 policies, including a ₦50 billion agric export fund and relaxed export regulations. However, challenges persist, including high logistics costs and inadequate storage facilities. The Nigeria Customs Service reported that 70% of export consignments faced delays due to port inefficiencies. Farmers in Kano and Ogun states, interviewed by Vanguard, cited power outages as a barrier to processing. On X, @AgroNigeria celebrated the milestone but urged infrastructure upgrades to sustain the momentum.

The NEPC projects a 50% growth for Q2 2025, driven by new trade agreements with the EU. Analysts warn that insecurity in northern states, including Benue, could disrupt production if unaddressed. The export surge has bolstered Nigeria’s foreign exchange reserves, providing a buffer against currency volatility, but sustained growth requires systemic reforms.