Amid the rapid expansion of Nigeria’s non-oil export sector, there are strong indications that local investors are being sidelined by foreign operators, particularly from Asian countries such as India, China, Lebanon, and Vietnam.
Industry stakeholders warn that the expected economic gains from the country’s diversification drive—away from oil dependence toward non-oil exports—are being eroded by the dominant business models of these foreign firms, leaving indigenous players at the margins of the booming trade.
According to data from the National Bureau of Statistics (NBS) and the Nigerian Export Promotion Council (NEPC), Nigeria’s non-oil export earnings surged to ₦4.8 trillion in the first half of 2025, marking a 391% increase compared to ₦977 billion in the same period in 2021.
Analysts say that while the figure reflects major progress in diversifying the economy, a large chunk of the value chain is controlled by foreign operators who source raw materials locally, process or package them, and then dominate the export market through better financing, logistics, and market access.
“This should have been an opportunity for Nigerian businesses to scale up and benefit significantly,” one exporter told Echonews. “But many local investors lack the financial muscle, technical know-how, and access to international markets that foreign players already have.”
Experts also note that foreign dominance in the sector is limiting backward integration, stifling local value addition, and contributing to capital flight—undermining the goal of strengthening the domestic economy.
The NEPC has repeatedly urged indigenous investors to form cooperatives and leverage government support schemes to become more competitive. However, many operators say these interventions remain largely inaccessible or inadequate.
Economists warn that unless deliberate efforts are made to support local exporters, the boom in non-oil exports may not translate into broad-based economic growth or significant job creation for Nigerians.
“The numbers look impressive, but without local participation and value addition, the benefits will be short-lived,” a trade analyst observed.
Nigeria’s top non-oil exports include agricultural products, solid minerals, manufactured goods, and processed food items—sectors with vast potential to generate jobs and foreign exchange if well harnessed.
