Echotitbits – Nigeria News

Tag: non-oil exports

  • Nigeria Posts ₦12 Trillion Trade Surplus as Non-Oil Exports Jump

    Nigeria Posts ₦12 Trillion Trade Surplus as Non-Oil Exports Jump

    Data released by Vanguard indicates Nigeria recorded a historic ₦12 trillion trade surplus in 2025, driven in part by a reported 21% rise in non-oil exports.

    Officials attributed the improvement to stronger performance in agriculture, processed solid minerals and select manufactured goods, positioning the outcome as a milestone for diversification.

    The stronger trade position is also expected to ease some FX pressure, though the broader macro outlook still depends on inflation and investment flows.

    **Echotitbits take:** The surplus is encouraging, but the public will measure success by jobs and cheaper goods. Watch for export incentives, port efficiency reforms and logistics upgrades that can keep non-oil growth durable.
    Source: Vanguard — https://www.google.com/amp/s/www.vanguardngr.com/2026/01/nigeria-records-n12trn-trade-surplus-21-non-oil-export-growth-in-h1-2025-trade-ministry/amp/ 2026-01-08

    Photo Credit: Vanguard

  • Cashew Farmers Push Back Against Export Restriction Plans, Warn of Income Shock

    Cashew Farmers Push Back Against Export Restriction Plans, Warn of Income Shock

    2025-12-30 17:00:00

    In an update published by Punch, cashew farmers under the National Cashew Association of Nigeria urged the Federal Government to drop proposals to restrict or ban raw cashew exports, warning it could hurt livelihoods and non-oil export earnings.

    Stakeholders argue Nigeria lacks sufficient processing capacity to absorb output, meaning a clampdown could depress farm-gate prices and trigger job losses across trading and logistics chains.

    Supporters of restrictions say processors need protection from foreign buyers, but opponents insist the better fix is investment in processing plants, not an export ban.

    The Guardian quoted a stakeholder warning, “If the government bans raw cashew export, 95 per cent of what we produce will be left to rot.” NCAN’s Dr Joseph Ajanaku was quoted saying, “we can’t accept that and you cannot ban the export of raw cashew nuts in Nigeria.”

    Echotitbits take: If value-add is the goal, sequencing matters—processing capacity first, restrictions later (if ever). Watch for incentives (tax breaks, credit, export-processing zones) that expand local processing without crushing rural incomes.

    Source: The Punch— December 29, 2025 (https://punchng.com/cashew-farmers-oppose-export-ban/)

    The Punch 2025-12-29

    Photo Credit: The Punch

  • US tariff shock: Nigeria’s export earnings take a hit as trade gap risks widen

    US tariff shock: Nigeria’s export earnings take a hit as trade gap risks widen

    Photo credit: The Punch

    2025-12-22 09:00:00

    Figures cited by *The Punch* show Nigeria’s exports to the United States have taken a major hit in the wake of higher US tariffs, with the report estimating a roughly ₦1tn-scale export loss and a sharper trade imbalance.

    The data-driven argument is that once tariffs rise, marginal cargoes—especially non-oil shipments—lose competitiveness quickly, while buyers switch to alternative suppliers.

    Economists warn that tariff pressure can ripple beyond customs: export earnings affect FX inflows, port activity, manufacturing orders, and jobs tied to the export chain.

    The story also revives an old weakness—Nigeria’s narrow export basket—where shocks to market access translate fast into national revenue and FX volatility.

    BusinessDay reported that “Nigerian exports to the United States will now attract a 15 percent tariff,” while Nigeria Info FM similarly reported exports “will now face a 15% tariff” following an executive order—supporting the tariff-change backbone of the Punch analysis.

    **Echotitbits take:** The policy response can’t be vibes: Nigeria must diversify export destinations, improve standards compliance, and negotiate carve-outs where possible. Watch for whether Abuja pursues targeted trade diplomacy—or quietly absorbs the loss and shifts focus to other markets.

    Source: The Punch — December 22, 2025 (https://punchng.com/nigeria-suffers-nearly-n1tn-export-loss-after-trump-tariff/)

  • Nigeria posts ₦6.69tr Q3 trade surplus as exports stay ahead of imports

    Nigeria posts ₦6.69tr Q3 trade surplus as exports stay ahead of imports

    2025-12-15 08:00:00

    According to The Punch, Nigeria recorded a ₦6.69 trillion trade surplus in Q3 2025, with exports of about ₦22.81tn outweighing imports of about ₦16.12tn, continuing a run of positive trade balances.

    Punch quotes analysts attributing the performance to FX-market reforms, liberalisation and currency adjustments that improved export competitiveness while making some imports more costly.

    The report notes crude oil remained the dominant export, while stakeholders called for policy consistency and deeper non-oil export expansion to sustain gains.

    Analysis/Echotitbits take: A sustained surplus can ease external financing pressure, but it matters what’s driving it—higher export value-add or simply weaker import demand. Watch non-oil export momentum, crude output stability, and how FX policy affects manufacturers’ input costs.

    Source: The Guardian Nigeria News — December 12, 2025

    Photo credit/source: The Guardian Nigeria News

    The Guardian Nigeria News https://guardian.ng/business-services/nigeria-records-trade-surplus-of-n6-9tr-in-q2-2024-nbs/ December 12, 2025