“Together, this combination of favourable commodity price movements and a more predictable and stable macroeconomic environment has strengthened the region’s growth prospects.”
She said, “In addition, global financial conditions have been more supportive than expected. External borrowing costs have declined and, overall, conditions have improved relative to October, contributing to the upward revisions.”
Beyond domestic reforms, IMF said global financial conditions had been more supportive than previously expected. It said external borrowing costs had eased, improving access to financing and reducing pressure on highly indebted economies.
Compared with conditions in October, the fund said the external environment had become marginally more favourable, contributing to the upward revisions in growth projections.
three destinations by value in the year under review.
In addition, export to the Netherlands increased by 32.46 per cent, with products including cocoa beans, cocoa butter, sesame seeds, and others, while export to Brazil increased by 19.07 per cent.
In volume terms, total non-oil exports stood at 8.02 million metric tonnes, reflecting a 10 per cent increase compared to the 7.29 million metric tonnes recorded in the previous year.
The growth in both value and volume demonstrated improved export activity across multiple value chains and market destinations, Ayeni said.
She said the country exported a total of 281 non-oil products, cutting across agricultural commodities, processed and semi-processed goods, industrial inputs, and solid minerals—reflecting gradual progress toward value addition and broader product representation in global markets.
She said Nigeria also exported 967,397.94 metric tons valued at $206.941 million, representing 3.40 per cent of total non-oil export to 25 other African countries outside ECOWAS, bringing total African export destinations to 36 countries.
The figures demonstrated increasing non-oil export activities and affirmed that AfCFTA held the key to intra-African trade, connecting 54 countries with over 1.3 billion people, she added.
In terms of products, cocoa and its derivatives, urea, cashew, sesame seed, gold dore, aluminium ingots, copper ingots, soya beans and meal, and rubber emerged top-performing non-oil export products.
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