Nigeria, Africa’s largest economy, relies heavily on international trade, particularly exports, to sustain its revenue. The country’s export earnings are primarily driven by crude oil, which has long been the backbone of its economy.
However, in recent years, non-crude oil exports have gained momentum, contributing significantly to Nigeria’s total export value. These exports include agricultural products such as cocoa and sesame seeds, as well as manufactured goods and solid minerals.
Nigeria’s trade relationships span across multiple continents, with Europe, North America, and Asia emerging as its biggest partners. The country’s export revenue is closely tied to global demand for oil, but diversification efforts are opening up new opportunities in other industries.