Nigeria’s export earnings hit a record high of N77.4 trillion in 2024, but this headline figure hides a deeper concern: export performance in dollar terms has plunged by nearly 48% over the last decade.
Experts say this reflects a dangerous illusion of growth, driven by currency devaluation and weak institutional capacity.
Nairametrics Research analysis shows that, between 2014 and 2024, Nigeria’s export value in naira terms jumped by 375.09%, rising from N16.3 trillion to N77.44 trillion.