The Nigerian Export Promotion Council (NEPC) has set its sights on generating between $9 billion and $10 billion in non-oil export earnings from Nigeria’s South-West region by 2035, as the country intensifies efforts to reduce its dependence on crude oil and strengthen its position in the global trade market.
The council said achieving the target would require a stronger focus on agricultural production, processing, value addition and export-oriented industrialisation across the region.
The Regional Coordinator, South-West, NEPC, Benedict Itegbe, disclosed the projection during the two-day 2026 Annual Agro-Allied Symposium and Exhibition organised by the Lagos Chamber of Commerce and Industry (LCCI).
The target comes at a time when Nigeria is seeking to expand its non-oil export base and increase the economic value generated from the country’s agricultural and industrial resources.
According to Itegbe, Nigeria formally exported $6.1 billion worth of non-oil products in 2025, with raw cocoa beans making up a significant portion of the earnings.
He said cocoa exports alone accounted for about $2 billion, representing approximately 33 per cent of the country’s total non-oil exports during the period.
The figures highlight the continued importance of agriculture to Nigeria’s export economy, particularly as demand for Nigerian agricultural commodities remains significant in international markets.
However, the NEPC official stressed the need for the country to move beyond simply exporting raw agricultural commodities.
For the South-West to achieve the projected $9 billion to $10 billion export earnings by 2035, more attention would have to be given to processing agricultural products locally before they are shipped to international markets.
The strategy is expected to help increase the value generated from commodities such as cocoa and other agricultural products while creating opportunities for businesses involved in processing, packaging, logistics and other areas of the export value chain.
Itegbe said export-oriented industrialisation remained an important pathway for developing agriculture and expanding Nigeria’s presence in the global market.
“There’s no gain saying that the way forward is export-oriented industrialisation for agriculture,” he said.
He added that the council believes the current trajectory could be sustained through 2035, when the South-West is projected to achieve the higher export target.
The emphasis on industrialisation reflects a broader challenge facing Nigeria’s non-oil export sector.
While the country has significant agricultural resources and produces commodities that are demanded internationally, much of the value can be lost when products are exported without sufficient processing.
By increasing local processing, exporters can potentially move from selling primary commodities to supplying finished or semi-processed products with greater value.
For the South-West, the strategy could also create room for more businesses to participate in international trade.
The region has a large concentration of commercial activities and industries, with Lagos serving as a major business and trade centre.
Its existing commercial infrastructure could provide an important base for expanding export-oriented production and connecting Nigerian businesses to international markets.
DDM News reports that the projected export target also places greater attention on the relationship between agriculture and industrial development.
Rather than treating agricultural production and manufacturing as separate activities, the proposed approach seeks to connect farmers, processors, manufacturers, exporters and other players within the same value chain.
Such integration could allow agricultural products to move from farms into processing facilities before reaching international consumers.
For exporters, this could mean greater opportunities in areas such as food processing, packaging, branding and product development.
For farmers, increased demand from processors could create a larger market for agricultural produce, while businesses involved in logistics and distribution could benefit from increased movement of goods within the export chain.
The cocoa sector provides a clear example of the potential value addition could bring.
With raw cocoa beans already accounting for about $2 billion of Nigeria’s non-oil export earnings in 2025, further investment in processing could allow more of the commodity’s economic value to be retained within the country.
Instead of exporting mainly raw beans, processors could produce cocoa products for international markets, creating additional stages of economic activity before the products leave Nigeria.
The NEPC’s projection therefore goes beyond increasing the volume of goods exported.
It also points to the need to improve the quality, processing and commercial value of products entering the international market.
Achieving the $9 billion to $10 billion target by 2035, however, would depend on how effectively businesses and policymakers address the challenges facing production and export activities.
These include the need for adequate infrastructure, reliable power, efficient transportation, quality standards, financing and access to international markets.
For agricultural exporters in particular, maintaining consistent quality and meeting the requirements of overseas buyers remain important to building sustainable export relationships.
The council’s focus on export-oriented industrialisation suggests that expanding production alone may not be enough.
Businesses would need to develop products that can compete in international markets while meeting the standards required by foreign consumers and buyers.
DDM News understands that the South-West’s role in Nigeria’s non-oil export ambitions could become increasingly important as the country seeks to diversify its sources of foreign exchange and reduce its exposure to fluctuations in crude oil earnings.
The 2035 target provides a long-term benchmark for measuring progress in the region’s export development.
It also places pressure on stakeholders to strengthen the agricultural and industrial systems required to support sustained export growth.
With Nigeria recording $6.1 billion in non-oil exports in 2025 and cocoa alone contributing about $2 billion, the NEPC’s projection indicates that there is significant room for expansion.
The challenge will be converting the region’s agricultural resources and commercial strength into a more developed export ecosystem capable of producing higher-value goods for international markets.
If sustained investment is made in production, processing and industrialisation, the South-West could play a larger role in Nigeria’s non-oil export ambitions as the country works towards the 2035 target.
