Tinubu: Non-oil exports rose 21% in 2024, over 1,000 SMEs certified for export
By Aboki Forex —
President Bola Tinubu has announced that Nigeria’s non-oil exports grew by 21 per cent last year. More than 1,000 small and medium-sized enterprises have been certified for export. He made the disclosure on Friday during his Democracy Day address.
The president said the growth is part of efforts to diversify the economy away from oil and expand business opportunities. He also stated that the National Agricultural Development Fund is deploying 10,000 tractors over five years to support the agricultural sector.
“Across the country, infrastructure projects are connecting producers to markets and creating opportunities for enterprise and employment,” Tinubu said.
Nigeria’s non-oil exports recorded a remarkable jump last year. Rising global demand for commodities like cocoa, urea, fertiliser and cashew drove the increase. Government trade initiatives and regional trade deals also supported the growth.
The African Continental Free Trade Area gave an additional boost to non-oil exports in 2025. It opened up market access and provided tariff relief to exporters. Nigeria exported 281 different non-oil products during the year. The top destinations were the Netherlands, Brazil, India, Belgium and the United States, according to the Nigerian Export Promotion Council.
Tinubu said investor confidence has returned since the introduction of economic reforms in 2023. Investments are growing in agriculture, manufacturing, technology, mining, transportation and the creative industries.
“Since 2023, our reforms have restored stability and credibility to economic management,” he noted.
Federation revenues have increased. States and local governments now have more resources for infrastructure, education, healthcare and security. Infrastructure projects across the country are helping connect producers to markets.
The president said the next phase of his administration’s agenda will focus on accelerating growth. He wants the benefits of government policies to be felt across the country.
“We are moving from uncertainty to stability. The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community, and every region,” he said.
Tinubu reiterated that democracy should translate into economic opportunities for citizens, particularly farmers, entrepreneurs and workers.
“Democracy must be felt in the quality of people’s lives, in opportunities for youth, in prosperous farmers, successful entrepreneurs, and the dignity of our workers,” he noted.