Nigeria’s fertiliser exports generated N1.37 trillion in the first quarter of 2026, making urea one of the country’s highest-earning export products and underscoring the growing role of industrial exports in the nation’s foreign exchange earnings.
According to the latest foreign trade statistics, fertiliser ranked behind only crude oil and natural gas among Nigeria’s leading export products during the period, outperforming several agricultural commodities that have traditionally dominated the country’s non-oil export basket.
The performance highlights the increasing contribution of value-added manufacturing to Nigeria’s export portfolio and reflects ongoing efforts to diversify foreign exchange earnings beyond crude oil.
A breakdown of Nigeria’s export earnings for the first quarter of 2026 showed that hydrocarbons remained the dominant source of foreign exchange inflows. Crude oil retained its position as the country’s largest export, generating N11.20 trillion during the quarter, while natural gas contributed N2.01 trillion.
However, fertiliser emerged as the next major non-crude export product, earning N1.37 trillion in export revenue. The figure surpassed earnings from several petroleum derivatives, including petroleum gases, which generated N1.34 trillion, jet fuel at N1.33 trillion, and gas oil at N625.45 billion.
The fertiliser export figure also significantly exceeded earnings from Nigeria’s leading agricultural exports, including cocoa beans, sesame seeds, cashew nuts and soybeans.
Data showed that fertiliser exports earned more than twice the value of cocoa exports, which stood at N596.9 billion during the quarter, highlighting a broader shift in Nigeria’s export mix as industrial products begin to command greater importance than raw commodity exports.
Compared to previous periods, fertiliser exports increased by N373.12 billion from the N1 trillion recorded in the fourth quarter of 2025 and by N518.88 billion from the N855.85 billion earned in the first quarter of 2025.
The performance places fertiliser among Nigeria’s most valuable export products and further demonstrates the growing role of industrial exports in the country’s external trade portfolio.
Analysts attribute the strong performance largely to the increasing impact of Nigeria’s domestic fertiliser industry, led by the Dangote Fertiliser Plant, Africa’s largest granulated urea complex, which has an annual production capacity of about three million metric tonnes.
Since commencing full operations, the facility has positioned Nigeria as a major supplier to global markets, exporting fertiliser to countries including Brazil, India, the United States and Mexico.
Industry data indicate that between 70 per cent and 77 per cent of the plant’s output is directed to export markets, making it a significant source of foreign exchange earnings while allowing Nigeria to benefit from favourable global urea prices.
The first-quarter trade data suggests that this industrial capacity is now being fully reflected in Nigeria’s export earnings.
The development marks a gradual shift away from the country’s traditional dependence on crude oil and raw agricultural commodities towards higher-value industrial products. Urea exports generated N1.37 trillion in the first quarter of 2026, up from N1 trillion in the preceding quarter and N855.85 billion in the corresponding period of 2025.
By comparison, cocoa exports stood at N596.9 billion, sesame seed exports earned N153.8 billion, soyabean exports contributed N129.3 billion, while cashew nut exports generated N119.8 billion during the quarter.
Unlike crude oil exports, fertiliser production creates substantially more domestic economic value through a broader industrial chain encompassing raw material processing, large-scale chemical manufacturing, transportation, storage and export logistics.
The sector is also supported by structurally strong global demand driven by rising food consumption and the need to improve agricultural productivity worldwide. Fertilisers remain essential inputs for modern agriculture and continue to play a critical role in boosting crop yields.
Despite the strong growth in fertiliser exports, Nigeria’s export earnings remain heavily concentrated in the oil and gas sector.
Oil and gas-related products generated approximately N17.93 trillion in export earnings during the quarter, accounting for nearly 85 per cent of total export revenue. Total non-oil exports stood at N3.19 trillion, with fertiliser alone contributing more than 40 per cent of total non-oil export earnings.
Notably, urea fertiliser exports exceeded the one trillion-naira threshold achieved in the previous quarter, rising to N1.37 trillion.
The emergence of fertiliser as a trillion-naira export product offers a clear example of what successful export diversification could look like for Nigeria.
While crude oil continues to dominate the country’s foreign exchange earnings, the growing contribution of industrial products such as urea suggests that manufacturing-led exports can play a much larger role in strengthening Nigeria’s external sector.
As policymakers intensify efforts to diversify exports, the performance of fertiliser demonstrates the benefits of leveraging local resources, processing them domestically and exporting higher-value products to international markets.
Experts say this approach could help Nigeria generate substantial foreign exchange earnings while gradually reducing its dependence on crude oil revenues over time.
Boluwatife Enome
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