Naija News • 1h ago
Analysts Predict Lasting Momentum In Non-Crude Exports, Private Sector Activities
**Nigeria's Non-Crude Exports and Private Sector Activities to Maintain Momentum**
Lagos, Nigeria - Experts believe that the Nigerian economy is poised to maintain its momentum in non-crude exports and private sector activities in the coming months. According to them, this can be achieved if the Central Bank of Nigeria (CBN) continues to intervene in the economy to boost productivity and increase inflows from exporters of non-crude oil.
The ongoing US-Israel military campaign against Iran and its impact on global energy prices, trade, and financial conditions have created uncertainty in the global market. This has led to a sharp rise in global energy prices, increased demand for the US dollar, and tighter financial conditions. As a result, the naira may continue to face pressure, leading to higher import costs.
However, experts are optimistic that Nigeria's non-crude exports, which include goods such as cocoa, rubber, and cassava, can help drive growth in the economy. According to data from the National Bureau of Statistics (NBS), Nigeria's total foreign trade declined by 1.1 percent in the fourth quarter of 2025, largely due to the appreciation of the naira. However, total trade expanded by 10.5 percent year-on-year, driven by growth in exports and imports.
Non-crude oil exports were a major contributor to the growth in exports, increasing by 48.6 percent year-on-year, while non-oil exports grew by 10.7 percent. On the other hand, crude oil exports declined by 29.6 percent due to lower production and weaker oil prices.
The increase in imports was driven by non-oil imports, which grew by 21.0 percent year-on-year. This was largely due to the country's growing demand for goods such as electronics, machinery, and vehicles.
To sustain the momentum in non-crude exports and private sector activities, experts are urging the CBN to maintain its interventions drive and provide support to exporters. They believe that this will not only boost market confidence but also create opportunities for growth and development in the economy.
As the global economy continues to navigate uncertainty, Nigeria's non-crude exports and private sector activities are poised to play a crucial role in driving growth and development in the country. With the right policies and interventions, the country can maintain its momentum and achieve its economic goals.