Futurity partners IESL as AI Enablement Partner for Techno 2025

Futurity Ltd., Sri Lanka’s first AI-native research studio, has announced its strategic partnership with the Institution of Engineers, Sri Lanka (IESL) as the official AI Enablement Partner for Techno 2025.

The collaboration was formalised at a signing ceremony attended by senior representatives from both organisations, including IESL President Elect and Techno 2025 Chairman Eng. Kosala Kamburadeniya, and IESL CEO Eng. Neil Abeysekera, alongside Futurity’s leadership team.

As part of the agreement, Futurity will introduce a revolutionary AI-powered conversational assistant that is set to transform the way visitors experience Techno 2025. This cutting-edge application will allow visitors to navigate the exhibition seamlessly, access detailed information on exhibitors, and receive real-time guidance on event schedules and highlights. The assistant represents a fundamental shift in how exhibitions are organised and experienced, moving beyond static directories and brochures to deliver dynamic, intelligent, and interactive visitor support.

This collaboration underscores IESL’s commitment to positioning Techno 2025 as more than just an exhibition. But as a living demonstration of future-ready technology in action. By embedding AI into the visitor journey, the exhibition aims to set a new standard in engagement, efficiency, and knowledge-sharing within Sri Lanka’s innovation ecosystem.

Alongside Futurity, Invos Global Ltd., will serve as the official Technology Partner, bringing deep expertise in enterprise-scale technology deployment, while Cyaniq Ltd., joins as the Communications Partner, leveraging its strengths in strategy and storytelling to enhance outreach. Together, the three organisations are aligning their complementary strengths to deliver a holistic and future-facing experience for Techno 2025.

‘Techno 2025 is not only about showcasing engineering excellence but also about creating smarter, more connected experiences,’ said Futurity Co-Founder and Director Supun Kaluarachchi. ‘Through effortless intelligence, our AI assistant will ensure every visitor can unlock the full potential of the exhibition.’

‘This partnership reflects IESL’s vision to embrace innovation and highlight the transformative role of AI in shaping Sri Lanka’s future,’ said IESL President Elect and Techno 2025 Chairman Eng. Kosala Kamburadeniya. ‘By working with Futurity and its partners, we are setting a benchmark for what modern exhibitions can achieve.’

Futurity Head of Business Dimitri Abeyratne emphasised that the initiative will act as a proof point for how Sri Lanka can deploy advanced AI technologies in practical, public-facing contexts: ‘This is about taking AI out of research labs and boardrooms and placing it directly in the hands of people, giving them a smarter, more informed, and more enjoyable event experience.’

Techno 2025 is set to welcome thousands of professionals, innovators, students, and industry leaders. With the integration of AI, the event is poised to deliver not only an exhibition of products and ideas but also an immersive journey powered by intelligence and connectivity.

Sri Lanka charts bold AI future as inaugural National AI Expo & Conference 2025 concludes

Sri Lanka’s first-ever National AI Expo and Conference 2025 concluded on 30 September in Colombo, marking a transformative milestone in the nation’s journey toward becoming a regional artificial intelligence hub. Pioneered by Digital Economy Ministry and SLT-MOBITEL, the two-day event brought together local and global leaders, innovators, policymakers, to chart an ambitious roadmap for Sri Lanka’s AI-powered future.

Landmark conference addresses AI integration across all sectors

The conference explored AI’s role in digital economy, education, healthcare, agriculture, and national security. Experts stressed human capital development, innovation ecosystems, ethical deployment, and inclusivity, highlighting the need to democratise technology, reform education for a future-ready workforce, and strengthen cybersecurity.

Prime Minister Dr. Harini Amarasuriya graced the occasion as Chief Guest and emphasised AI’s growing influence on decision-making, envisioning Sri Lanka as a leader in using technology to solve problems, create opportunities, and build a fairer society. She stressed that critical thinking and scepticism are vital to keep innovation ethical and impactful and the importance of preparing a workforce capable of navigating modern technology, with a focus on integrating digital literacy and data education into the national curriculum.

Digital Economy Deputy Minister Eng. Eranga Weeraratne stressed AI’s importance and its overall contribution to the Digital Economy. Deputy Minister compared AI to electricity in its transformative power, calling on industry to invest in talent and ideas while ensuring equitable access that supports rural and urban communities, local languages, and Sri Lanka’s unique needs. He also announced plans for a dedicated start-up funding program beginning in January 2026 to support AI research and innovation.

SLT Group Chairman Dr. Mothilal De Silva, highlighted the pivotal role of telecommunications infrastructure in enabling AI, describing data networks as the ‘arteries carrying blood.’ He underscored SLT-MOBITEL’s commitment to advancing AI responsibly, ensuring data sovereignty, providing AI-as-a-service for all, and fostering broad stakeholder collaboration to build an inclusive, AI-enabled society. Dr. De Silva also emphasised the importance of partnerships between Government, industry, and academia to position Sri Lanka as a leader in the global AI landscape.

Exhibition showcase brings AI to life

Alongside the conference, a dynamic exhibition brought AI to life through demos, workshops, and hands-on experiences, drawing thousands of participants. Huawei, as technology partner, showcased AI-powered cloud, smart city, healthcare, and education solutions, linking global innovations to local needs. The event was further supported by Microsoft, AWS, EGUARDIAN, Tech One Global, WebAppClouds, Xencia, Aventude, Inflow Tech, Universal College Lanka, Clarity, NCINGA, Sri Lanka Insurance General, Connex IT, SLASSCOM, and FITIS.

A key highlight was the SLT-MOBITEL AI Campus, where students engaged in robotics, coding, and AI tools, receiving mentorship and guidance on courses and career paths while exploring real-world applications. The exhibition also featured hackathons and innovation challenges, concluding with an Awards and Recognition Ceremony that honoured winners across categories. The National AI Expo and Conference established a platform for collaboration among research institutions, enterprises, and students.

The Expo concluded with a renewed pledge to position Sri Lanka as a South Asian hub for digital services, fostering an ecosystem where tech entrepreneurs, SMEs, and multinational investors can thrive in a secure, innovation-driven economy.

Hameedia re-launches H Sports Pelawatte outlet

Hameedia, celebrated the grand re-launch of its H Sports outlet in Pelawatte, unveiling a fresh new store concept and exclusive activewear collections. The newly revamped store promises to deliver an elevated shopping experience for sports lovers and fitness enthusiasts, showcasing the latest global trends in activewear, athleisure, and performance gear from world-renowned brands including Adidas, Nike, Campus, and H Active.

Located at 724A, Pannipitiya Road, Battaramulla, H Sports is designed as a one-stop destination for those seeking high-quality sportswear that combines style, comfort, and functionality. The store offers a wide range of world-class products in footwear, apparel, and accessories right here in Sri Lanka.

The official ribbon-cutting ceremony was held in the presence of Amjad Hameed – Director of Signature, together with members of the Hameedia management team. The re-launch event presented an exclusive first look at H Sports’ newest collections, offering fashion-forward pieces ideal for gym workouts, professional training sessions, or athleisure wear. Guests enjoyed an immersive evening featuring curated looks, styling inspiration, and engaging activities. On launch day, customers also took part in Time Challenge Games, including Skipping Rope and Dips competitions. Winners received special gifts, while exclusive in-store offers added to the excitement of the celebration.

Hameedia Managing Director Fouzul Hameed said: ‘H Sports has always been about empowering people to move better and live healthier, more active lives. With this re-launch, we are not just reopening a store, We are reintroducing a space designed to inspire both performance and fashion. Our goal is to inspire Sri Lankans to embrace an active and healthy lifestyle with the very best in global sportswear, while enjoying a world-class retail experience.’

The store’s redesigned layout offers a modern, spacious, and customer-friendly environment, making it easier for shoppers to explore categories ranging from performance wear and running shoes to athleisure staples and accessories. With Hameedia’s commitment to quality and innovation, the upgraded store also aims to serve as a community hub where sports enthusiasts can stay connected to the latest trends and updates in fitness fashion.

In addition to the Pelawatte outlet, H Sports also operates outlets at Racecourse Promenade, Colombo 7, and Kandy City Centre, L/3 – 17, Kandy, continuing its mission to make world-class sportswear and athleisure accessible across Sri Lanka.

Pavithra Fernando elected new SL Rugby President

Former Royal, CR and FC, and national player Pavithra Fernando was appointed as the President of Sri Lanka Rugby (SLR) at their Annual General Meeting (AGM) yesterday.

Former Antonian and CR and FC rugby player Shanitha Fernando was appointed as the Deputy President, while former Thurstan and Air Force rugby player Subash Jayathilake will be the Secretary of SLR.

Former Police skipper Chinthaka Perera took over the Vice President’s post.

Office bearers for 2025/2026:

President Pavithra Fernando; Deputy President Shanitha Fernando; Vice President Chinthaka Perera; General Secretary Subash Jayathilake; Treasurer Neomal Ekanayake; Female Representative Thilini Rangani, and Athlete Representative Stephan Gregory.

Creating Customer Experience: ‘Can modern business still feel human?’

In the fast-paced journey towards digitisation, many companies overlook a simple truth: customers are human beings, not data points. Artificial Intelligence (AI), chatbots and self-service portals promise efficiency and accuracy in what they deliver. However, these tools often risk stripping away the emotional connection with customers – the very connection that builds loyalty. Therefore, greater emphasis must be placed on ensuring that digitization does not lead to standardisation or robotisation but instead promotes customisation and personalisation. In this process, think of shifting from ‘Tech to Touch’, using technology to capture customers’ attention and strengthen emotional connection. This is the paradox of modern service: the more digital we become, the more human we must be.

Artificial Intelligence versus Human Intelligence

Of course, technology, commonly referred to today as Artificial Intelligence (AI), can replace humans in specific areas, by excelling at repetitive, routine and mundane tasks thus improving efficiency. AI’s main advantages include enhanced productivity through automation, improved decision-making through data analysis, and round-the-clock operational capability. It is well established that AI-based systems are fast, accurate and consistently rational. Yet they are not intuitive, emotional or culturally sensitive, qualities that make humans truly effective.

AI lacks the Emotional Intelligence (EI) and creativity that are inherently human. While AI can recognise and analyse emotions to some extent, it may not have the capability to truly understand the implications or to respond in a meaningful way. AI abilities depend largely on the data it processes. Humans, by contrast, are more capable of imagining, anticipating, feeling and exercising judgment in changing situations – abilities that AI still struggles to emulate.

Human intelligence includes a deep understanding of emotions and behaviour. This allows humans to shift focus from short-term to long-term perspectives. People have the ability to understand and relate to the feelings of others, strengthening relationships and social interactions. In this context it is evident that humans remain superior to AI in areas requiring emotional depth and adaptability. A complete replacement of humans by AI is unlikely in the foreseeable future. The more realistic future involves collaboration between humans and AI, where technology enhances human capability allowing us to work more effectively and harmoniously in serving human interests. This synergy could ultimately drive economic growth and create more job opportunities.

Tech to Touch – Empathy

Empathy is the ability to understand and share another person’s feelings. In customer service, it means recognising the emotional context behind a request. Organisations that consistently train their staff in empathy earn customer trust more quickly. According to PwC research 82% of customers want more human interaction in the future, not less.

Empathy in Action – Personal Experiences

Case Study 1

Recently I visited a bank for my regular banking requirements. I was greeted by a Banking Assistant (BA) near the counter where deposit slips were usually kept. To my surprise there were no slips available. The Banking Assistant explained: ‘As part of our ‘go green’ initiative, the bank has presently eliminated paper slips. You can now scan the displayed QR code to complete your transaction.’

Seeing that I needed help with this new tech-based process, she kindly offered to assist me. She registered my account details on my mobile phone and patiently explained how I could perform future transactions conveniently using the bank’s mobile app.

This young Banking Assistant, perhaps from Gen Z, demonstrated positivity, friendliness, kindness, patience and the ability to get things right the first time. Her proactive help in guiding me through the new QR code left a lasting impression on me and enhanced my perception of the bank. It was a small gesture but created a meaningful and memorable customer experience.

Case Study 2

On another occasion, I ordered a specialised microphone from an authorised seller overseas. The item was to be delivered directly to my nephew who lives in that country, who planned to hand-carry it to Sri Lanka during his holiday. The seller assured delivery within ten working days, and I placed the order 13 days before my nephew’s departure, leaving a few extra days for any unexpected delays.

I received a tracking link from one of the world’s largest courier companies. However, toward the end of the delivery period, the tracking status stopped updating. It showed that the package had arrived in my nephew’s city but was held up due to an extended holiday period. Our only option for contact was a 24-hour ‘Customer Service’ hotline. Unfortunately, every attempt to reach a representative went to voicemail, and no one returned our calls.

As a result, my nephew left the country without the microphone-an item I had planned to use for a keynote speech just days later.

This experience left me questioning: what is the value of advanced technology if it fails to meet a specific customer need? A simple human intervention could have resolved the issue.

The role of the ‘Empathy Agent’

Tech-based solutions should be designed to anticipate customer needs proactively, not just respond to them. Even automated messages can sound warm, specific and human. When a bot cannot resolve an issue, it should seamlessly transfer the customer to a human agent with full context, sparing them from having to repeat information. In emotionally charged situations, empathic human agents – sometimes referred to as ‘Empathy Agents’ – cannot only solve problems but also provide reassurance to customers during difficult moments.

A competitive necessity

In a world where competitors can easily replicate tangible elements-product, price, place, promotion, processes and physical evidence-true and lasting differentiation comes from the human factor. Empathy remains one of the last authentic competitive advantages. Those who master it at scale will make their brands not only efficient but also irreplaceable.

It is a fact that technology, no matter how advanced, can never replicate everything humans create. Art forms such as painting, music, video games, architecture, and fashion-products of human imagination and craftsmanship-will always hold special value. In an AI-saturated world, the worth of human-made creations will only rise. As the saying goes, ‘What is made of glass still has class.’

Similarly, in a rapidly evolving technological market place, people will continue to play a vital role in delivering services with a human touch – something customers deeply appreciate. The fact remains: ‘technology can deliver efficiency, but only humans can over-deliver with empathy.’

Monk on hunger strike for Mahinda

A Buddhist monk from Rathupaswala, Ven. Theripahala Siridhamma Thero, began a hunger strike in Tangalle yesterday to protest the Government’s decision to withdraw the security detail of former President Mahinda Rajapaksa.

The protest started around 1 p.m. near the D. S. Senanayake statue, opposite Carlton House in Tangalle, according to local reports.

The monk is demanding the reinstatement of security for Rajapaksa and other former presidents, arguing that removing state protection for a former head of state is unacceptable and poses risks to their safety.

Ven. Siridhamma Thero said he will continue the fast until the government reverses the decision and restores full security arrangements.

Colombo stock market dips due to profit taking

The Colombo stock market yesterday dipped largely due to profit taking amidst healthy turnover.

The benchmark ASPI declined by 0.3% and the active S and P SL20 by 0.4%. Turnover was Rs. 7.3 billion.

Foreign investors remained net sellers, recording a net outflow of Rs. 196.2 million.

First Capital said post hitting the 22,000 milestone on ASPI, marked the first day of profit taking, after 15 consecutive days of gains.

While both retail and HNW participation was high, investors have largely realized gains on the Banking sector counters and conglomerates.

BUKI, SUN, DIAL, COMB and CARS were the top contributors to the index.

Banking sector took the lead in terms of sector wise contributions to turnover, with a share of 21%, followed by the Capital Goods sector and Food retailing sector, which produced a combined contribution of 35%. Food retailing sector’s high turnover was underpinned by the increased HNW participation observed in CARG and CTHR.

NDB Securities said high net worth and institutional investor participation was noted in Cargills, C T Holdings and Commercial Bank. Mixed interest was observed in Lanka Credit and Business Finance, John Keells Holdings and Colombo Dockyard whilst retail interest was noted in Kotagala Plantations, Co-Operative Insurance Company and Hela Apparel Holdings.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank) whilst the sector index lost 0.35%. The share price of Commercial Bank increased by 75 cents to Rs. 197.

The Capital Goods sector was the second highest contributor to the market turnover (due to Colombo Dockyard and John Keells Holdings) whilst the sector index decreased by 0.74%. The share price of Colombo Dockyard recorded a gain of Rs. 4.50 to Rs. 134.

The share price of John Keells Holdings declined by 20 cents to Rs. 21.50.

Cargills and C T Holdings were also included amongst the top turnover contributors. The share price of Cargills closed flat at Rs. 750. The share price of C T Holdings moved down by Rs. 1.50 to Rs. 651.

LOVI celebrates Sri Lanka’s women cricketers

LOVI Ceylon, in collaboration with Events by Shero and Cinnamon Grand Colombo, hosted a heartfelt send-off dinner in honour of Sri Lanka’s national women’s cricket team ahead of their participation in the ICC Women’s World Cup.

The celebration was held at the Atrium of Cinnamon Grand Hotel, Colombo, on the eve of the tournament’s commencement across Sri Lanka and India.

The evening was marked by elegance, pride, and national spirit as players, coaches, and key stakeholders gathered to acknowledge the commitment and excellence of the women’s team. Attendees included representatives from Sri Lanka Cricket, LOVI Ceylon, and well-wishers from across the community.

As part of the celebration, LOVI Ceylon unveiled the ceremonial attire designed exclusively for the team’s international appearance. The custom designs are a continuation of the brand’s mission to define a contemporary Sri Lankan fashion identity and honour national pride through modern craftsmanship. The brand has previously styled the national squad for global platforms including the Olympics in Tokyo and Paris.

The send-off event opened with a welcome address by LOVI Ceylon Founder Asanka de Mel, followed by a traditional blessing and cultural performance to wish the athletes success. The ambiance of the Atrium was transformed into a tribute to the strength, determination, and grace of Sri Lanka’s finest women cricketers.

Asanka de Mel said: ‘Each of these athletes, their families and coaches have toiled for more than a decade or more to get to this level. They bring glory to Sri Lanka. We wanted to honour them, celebrate them, and wish them success. Our Women. Our World Cup.’

The event not only celebrated athletic excellence but also stood as a testament to the growing recognition of women’s sports in Sri Lanka. Through the collaboration, LOVI Ceylon underscored its commitment to amplifying national moments and representing Sri Lankan heritage on global stages.

‘I am grateful to Sri Lanka Cricket for this opportunity and the truly amazing event partners Ramani Fernando Salons, Dimitri Cruz Photography, Impress Events, Events by Shero and Cinnamon Grand Hotel for their support and magic,’ Asanka added.

The atmosphere of unity and pride echoed throughout the evening, reinforcing the collective aspiration of the nation behind the women representing Sri Lanka on the international stage.

As Sri Lanka prepares to co-host the prestigious ICC Women’s World Cup, this gesture by LOVI Ceylon and its partners sets a powerful tone of encouragement and national solidarity.

LOVI Ceylon, based in Colombo, is a contemporary Sri Lankan fashion brand founded by Asanka de Mel. Dedicated to defining a modern Sri Lankan identity through design, LOVI offers handcrafted garments using natural materials. Each creation is a celebration of cultural heritage, artistry, and innovation, made to empower individuals to wear their pride anywhere in the world.

Ethical AI adoption will define Nigeria’s AI future

In today’s digital world, data is the petrol and diesel that powers Artificial Intelligence (AI). Every innovative system, from chatbots that answer customer queries to fraud algorithms that scan millions of transactions, is powered by data. However, just as bad fuel can damage an engine, poor or unethical data use can erode trust, damage reputations, and even destroy entire businesses.

Across Nigeria, organisations are rushing to plug AI into their operations in banking, insurance, education, healthcare, and even government. Yet, many are discovering that adopting AI isn’t just about technology; it’s about responsibility. The brighter your system, the higher your duty to use data ethically.

Think of data as the oxygen AI breathes. There’s structured data, with neat rows of figures, such as account balances or payroll. Then, semi-structured data, such as emails, forms, or system logs. And the messy but powerful unstructured data: videos, tweets, voice notes, and CCTV feeds. AI models feed on all of these to learn patterns, make predictions, and personalise experiences. However, if the data is incomplete, biased, or collected without consent, the results can be unfair, inaccurate, or even unlawful. In other words, garbage in, chaos out.

That’s why countries, including Nigeria, are setting up guardrails. AI can only thrive when data is handled with care, consent, and conscience.

Innovation must be ethical

Ethics in AI isn’t about slowing down innovation. It’s about building trust in the system. When algorithms decide who gets a loan, which citizen gets flagged for fraud, or which student qualifies for a grant, those decisions must be explainable, fair, and lawful.

Informed executives now talk about ‘ethics by design’, building responsibility into every layer of AI, from how data is collected to how results are interpreted. Because in the age of automation, a single unethical decision can go viral faster than any product launch.

‘That’s why countries, including Nigeria, are setting up guardrails. AI can only thrive when data is handled with care, consent, and conscience.’

NDPC: From barking to biting

Nigeria has stepped up. The Nigeria Data Protection Act (NDPA) and the Nigeria Data Protection Commission (NDPC) now form the country’s backbone for data rights and responsible AI. This is no longer a theoretical conversation; it’s active law enforcement.

In recent months, the NDPC has handed down fines ranging from ?5 million to over ?50 million to organisations that mishandled customer data, failed to secure consent, or ignored basic compliance steps.

And now, with the launch of the Global Alliance for Innovative Development (GAID), a new government-backed initiative, Nigeria is signalling its readiness to align AI governance with global best practices while nurturing homegrown innovation. The message is clear: AI must serve the people, not exploit them.

Corporate governance meets AI governanceUsually, I share with executives that AI governance is not a ‘tech department’ issue; it’s a boardroom conversation. Data misuse can trigger regulatory action, shareholder panic, and customer distrust.

Progressive, innovative companies are already moving ahead by:

Appointing Data Protection Officers (DPOs)

Set up AI Governance Committee

Running Data Protection Impact Assessments (DPIAs) before launching products

Training staff to recognise ethical red flags

Regularly audit algorithms to check for bias or unfair outcomes.

In short, ethics isn’t an add-on; it’s now a business continuity strategy. Bottom line

So how can executives avoid being caught napping? Start by seeing compliance not as punishment but as insurance, and partner with experienced AI governance experts. Run AI ethics audits. Regularly train your teams. And most importantly, treat customer data with the same respect you’d expect for your own.

Consumers are watching. Regulators are watching. Investors too. The brands that will thrive are those that build trust into their algorithms and fairness into their code.

The future of AI success in Nigeria belongs to those who match innovation with integrity. Ultimately, the smartest move in AI is to play by the rules.

Dotun Adeoye is a seasoned technology strategist and AI innovation leader with over 30 years of global experience across Europe, North America, Asia, and Africa. He is the co-founder of AI in Nigeria.

Nigeria’s trade strengthens in H1 2025 from economic recovery

The bullish economic reforms are yielding results suitable for economic growth over the long term, even though the immediate impact does not appear to be very visible. The federal government of Nigeria has recently penned down strategic fiscal and economic reforms, of which some have been implemented immediately, while others will be implemented in 2026. Nigeria recorded a total foreign trade position of ?74.062 trillion, which consists of ?43.349 trillion (41.47%) in exports and ?30.713 trillion (58.53%) in imports, yielding a trade balance of ?12.636 trillion (17.06%) between January 2025 and June 2025.

The quarter-on-quarter results are very remarkable, as there is more alignment of Nigerian players to export more goods than import during the period under review. The total trade improved slightly by 5.59%, increasing from ?36.025 trillion to ?38.038 trillion. Meanwhile, the trade surplus surged by 44.31% quarter-on-quarter, rising from ?5.172 trillion in Q1-2025 to ?7.464 trillion in Q2-2025, as imports decreased by 0.90% from ?15.426 trillion to ?15.287 trillion and exports rose significantly by 10.45% from ?20.598 trillion to ?22.751 trillion. A further review revealed that some shortfalls from the trade that should have been recorded in March 2025 were accounted for and recorded in April 2025, resulting in March 2025 having the lowest total trade position of ?11.590 trillion, April 2025 having the second-highest total trade position of ?12.718 trillion and May 2025 having the highest total trade position of ?13.695 trillion. The total volume of trade between H1 2024 and H1 2025 is relatively stable, reflecting a slight decline of 1.94% in dollar terms. Despite the nominal naira value of the total trade increasing by 12.88% from ?65.609 trillion in H1 2024 to ?74.062 trillion in H1 2025, the average naira-to-dollar exchange rate depreciated by 15.12% from ?/$ 1346.30 to ?/$ 1549.83 over the same period.

The year-over-year export trade increased by 17.51%, rising from ?38.891 trillion in H1-2024 to ?43.349 trillion in H1-2025, primarily due to the declining value of the ?/$ exchange rate; however, the dollar value of these exports only increased by 2.08%, from $27.401 billion to $28.000 billion. On a year-over-year comparison, the imports appear to have increased by 6.94% from ?28.719 trillion in H1-2024 to ?30.713 trillion in H1-2025, while the dollar equivalent declined by 7.10% from $21.332 billion to $19.817 billion in H1-2025. Of the total export trade in H1-2025, the value of crude oil exported is ?24.921 trillion, 57.49% of total exports, with April 2025 having the lowest share of crude oil exports to total exports at 48.97% and April 2025 also having the highest share of non-oil exports to total exports at 17.02%. In a q-o-q comparison, Q2-2025 delivered the highest share of non-oil exports at 15.38%, behind Q2-2020 at 15.86% between 2020 and 2025. The value of non-oil exports in Q2-2020 was relatively high because oil prices fell to a low futures price of $37.63 per barrel, which was caused by logistics issues stemming from the Covid crisis. In H1-2025, agricultural-related exports contributed the most after crude oil and other oil-related products.

Agricultural-related exports worth ?2.961 trillion account for 6.83% of the total value of goods exported in H1-2025. The most traded commodities for this period are standard-quality cocoa beans, superior-quality cocoa beans, and cashew nuts. There are concerns, as the only processed product among the leading agricultural exports in H1-2025 is natural cocoa butter, with a total value of ?184.115 billion, a tiny fraction of 6.22% of the total agricultural exports and approximately 5% of the total cocoa exported as raw material to the other markets. Behind agriculture, the raw material value of ?1.864 trillion, a 4.30% share of total exports, was also a significant non-oil export. Urea, non-monetary gold (including gold plated with platinum), technically specified natural rubber, other preparations of cocoa powder in blocks, and leather further prepared after tanning contributed significantly in Q2-2025. The solid minerals sector recorded the lowest share of export goods in H1-2025 with a value of ?136.173 billion, 0.31% of total goods exported.

The trade surplus of ?12.636 trillion ($8.153 billion) in H1-2025 was mainly due to stable conditions, good expectations for foreign exchange rates, and stronger external reserves, making it the highest in Africa for that period, even though the average price of crude oil, Nigeria’s main trade income source, went down. The average market price for the monthly position in H1-2025 is $73.46/barrel, below the $75.00/barrel presented in the 2025 Appropriation Act, the 2025-2027 Medium Term Expenditure Framework and the Fiscal Strategy Paper for the Federal Republic of Nigeria. There are opportunities for an increase in the trade surplus balance as the economic recovery path for Nigeria is sustained over the short to medium term.

Oluwatosin Oladetan is a public policy expert, board advisor, vice president, independent director, business strategist, corporate strategist, and advisor on business transformation and project management. As a prognosticator, he has developed appropriate competencies for deploying critical thinking, analytical skills, financial modelling, leadership, project management, team management, management consulting, emotional intelligence, design thinking, strategic planning, corporate planning, change management, idea incubation, refinement, development, and transformation.