FIVE FIRMS DRIVE NIGERIA’S $120M NON-OIL EXPORT EARNINGS

Five companies accounted for about $120 million, or 29.51 per cent, of the earnings generated by Nigeria’s top 100 non-oil exporters in April 2026, highlighting the growing contribution of agriculture, agro-processing, and fertiliser to the country’s export economy.

The Central Bank of Nigeria (CBN) identified Dangote Fertiliser, Robust International Commodities, Tulip Cocoa Processing, Valency Agro Nigeria, and Outspan Nigeria as the leading contributors.

Dangote Fertiliser accounted for the largest share at 14.15 per cent, followed by Robust International Commodities with 5.16 per cent, Tulip Cocoa Processing at 4.03 per cent, Valency Agro Nigeria at 3.17 per cent, and Outspan Nigeria at 3.01 per cent.

Overall, Nigeria’s non-oil export earnings rose to $960 million in April, up from $770 million in the previous month. The increase was supported largely by higher global commodity prices and stronger receipts from cashew nuts and fertiliser.

Cashew nuts remained the largest non-oil export product, contributing 21.25 per cent of earnings, while urea and cocoa beans accounted for 14.15 per cent and 10.46 per cent respectively.

The figures underline the growing importance of non-oil exports as Nigeria seeks to diversify foreign exchange earnings and reduce its dependence on crude oil.