Nigeria is breaking records in non-oil exports, but the big winners aren’t Nigerians themselves.
In the first half of 2025, over $3.2 billion worth of goods left the country. In some months alone, shipments crossed N5 trillion, reaching destinations across the Netherlands, the USA, India, and several African nations under the AfCFTA framework. On the surface, it looks like a remarkable success story.
But a deeper look reveals a different reality — almost 70% of the profits are controlled by foreigners, leaving local players with crumbs.
Foreign Hands, Local Struggles
Last year, agricultural exports alone contributed trillions of naira. Yet, instead of empowering local farmers, foreign middlemen scooped up the bulk of the earnings. Many farmers at the grassroots ended up with just enough to survive, but nowhere near enough to expand or invest.
The leaderboard of Nigeria’s biggest exporters shows why. Olam, the country’s largest non-oil exporter, is controlled by Singapore’s Sovereign Wealth Fund. Indorama Eleme Fertiliser is foreign-owned as well. Major supply chain players include Indian, Chinese, Lebanese, and Dutch investors — not Nigerians.
This means the system is designed to move money outward. The bulk of profits never return to develop Nigerian farms, factories, or processors. Local businesses cannot scale, and communities barely feel the impact.
Exports Raising Prices at Home
While goods leave Nigerian ports at record pace, there is a hidden consequence — rising food prices at home. With no direct investments to balance the effects, households face steeper costs for staples.
The skills, networks, and market control all sit in boardrooms thousands of miles away, from Europe to America to Asia. Meanwhile, Nigerian farmers and processors remain on the margins of a trade boom happening in their own backyard.
A Call for Local Capital
The message is clear: if Nigerians don’t own the chain, Nigerians don’t own the gain. Experts and advocates are urging wealthy citizens, investors, and even families pooling resources to step into the agro value chain.
That luxury car or foreign holiday can wait. Real progress lies in backing farms, warehouses, processing plants, and export logistics. Even small beginnings — one farm, one warehouse, one innovative idea — can grow into something transformative. Many global companies started with less.
This isn’t an opportunity reserved for billionaires. It’s about vision, speed, and collective action. By investing strategically, Nigerians can shift ownership from foreign middlemen back to local hands.
Securing Nigeria’s Future
If the current pattern continues, Nigeria risks exporting wealth while importing hardship. Without ownership, the country cannot control food prices, create stable jobs, or guarantee its future security.
But if Nigerians channel their capital and ambition into the export chain, the story can change. The boom can truly benefit the farmers, the processors, and the communities it was meant to uplift.
In the end, the choice is simple: either Nigeria owns the chain, or others will keep owning the gain.
Credit:
“This powerful piece was originally written by John Dale. Sharing here because it speaks volumes about Africa’s untapped wealth and lost opportunities.”
