Nigeria’s economy recorded several notable improvements in 2025, including a sharp rise in non-oil exports, stronger foreign-exchange reserves and a significant moderation in inflation, according to official data.
The Nigerian Export Promotion Council (NEPC) said the country’s non-oil exports reached a record $6.1bn in 2025, an 11.5% increase from about $5.4bn in 2024. The council described the figure as the highest formally documented non-oil export performance in Nigeria’s history.
The development provides evidence of increased activity outside the oil sector, with Nigerian businesses exporting agricultural and manufactured products to international markets. NEPC data showed that export volumes also rose to 8.02 million metric tonnes, while Nigerian products reached 120 countries.
Inflation also eased substantially during 2025. The Central Bank of Nigeria said headline inflation fell from 34.80% in December 2024 to 15.15% in December 2025, although price pressures remained a major challenge for households and businesses.
Nigeria’s external position also strengthened. The International Monetary Fund said gross international reserves increased to about $46bn at the end of 2025, compared with $40bn a year earlier, while net international reserves rose from $23bn to $35bn.
The Central Bank also reported improved conditions in the foreign-exchange market, with the gap between official Nigerian Foreign Exchange Market rates and Bureau de Change rates narrowing significantly during 2025.
Oil production and security around oil infrastructure have also been cited among factors supporting Nigeria’s improving external position. However, the broader economic picture remains mixed, with the IMF noting continued challenges including poverty, food insecurity and higher food and transport costs.
The latest figures therefore point to measurable gains in Nigeria’s macroeconomic indicators, while also highlighting the gap between improved headline economic data and the continuing cost-of-living pressures faced by many Nigerians.
