Business
Exporter Rabiu Projects Bold Non-Oil Export Surge in Nigeria
Nigeria non-oil export growth projection as Ahmed Rabiu says Nigeria could scale exports from 15% to 80% with better business environment
The Nigeria non-oil export growth projection was made during a business forum in Abuja where stakeholders gathered to review a new market survey outlining structural challenges and potential reforms needed to unlock the country’s export potential.
Also read: Fidelity Bank Empower Entrepreneurs To Play Big In The Non-Oil Export Market
Rabiu stated that while successive governments had introduced policies aimed at boosting non-oil exports, persistent bottlenecks in trade facilitation, infrastructure and regulatory processes had continued to limit performance.
He argued that with decisive policy implementation and improved ease of doing business, Nigeria could unlock what he described as a “trillion-dollar opportunity” across agriculture, solid minerals and value-added services.
According to him, exporters are currently operating far below capacity due to inefficiencies in the system, stressing that an improved operating environment could significantly expand production and international competitiveness.
The Nigeria non-oil export growth projection also highlighted the role of AfCFTA in opening wider continental markets, which he said could help diversify Nigeria’s revenue base and reduce dependence on oil earnings.
Rabiu further noted that Nigeria’s non-oil exports stood at $6.1 billion in 2025, up from $5.46 billion in 2024, describing the growth as positive but insufficient compared to the sector’s true potential.
Also read: Nigeria Non-Oil Export Data Rises to N3.17tn, as Data Gaps Fuel Debate
He expressed optimism that upcoming reforms could accelerate export expansion and position Nigeria as a major player in global non-oil trade if structural challenges are effectively addressed.
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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