Nigeria's Non-Oil Exports Hit $120 Million in April 2026

In April 2026, Nigeria's non-oil export sector achieved a significant milestone, generating $120 million, primarily through five leading companies: Dangote Fertiliser, Robust International Commodities, Tulip Cocoa Processing, Valency Agro Nigeria, and Outspan Nigeria. The Central Bank of Nigeria (CBN) reported that non-oil export earnings rose to $0.96 billion from $0.77 billion, largely due to increased global commodity prices and improved receipts from cashew nuts and fertiliser.

Cashew nuts emerged as the largest non-oil export product, contributing 21.25% of earnings, followed by urea at 14.15% and cocoa beans at 10.46%. The five companies accounted for 29.51% of the earnings of the top 100 non-oil exporters, with Dangote Fertiliser leading at 14.15%.

The CBN's report underscores the growing significance of industrial fertiliser and agro-processing in Nigeria's foreign-exchange earnings. Additionally, Dangote Industries appointed MTN Group CEO Ralph Mupita to the board of Dangote Fertiliser, reflecting the company's expansion ambitions.