This study examined the effect of export production on foreign exchange earnings in Nigeria, with foreign exchange earnings serving as the dependent variable, while oil exports and non-oil exports were employed as the independent variables. The study was motivated by Nigeria’s persistent external sector vulnerability and heavy reliance on crude oil exports as the primary source of foreign exchange earnings, which has exposed the economy to global commodity price shocks and macroeconomic instability. The study adopted a quasi-experimental research design and utilized annual time-series data spanning the period 1991 to 2024. Secondary data were sourced from the Central Bank of Nigeria Statistical Bulletin and publications of the National Bureau of Statistics. The analysis was anchored on the Export-Led Growth theory, complemented by the Comparative Advantage and Heckscher–Ohlin trade theories, which collectively emphasize the role of exports in generating foreign earnings, improving resource allocation, and strengthening macroeconomic performance. The Ordinary Least Squares (OLS) regression technique was employed to estimate the relationship between export production and foreign exchange earnings, while supporting econometric tests were conducted to ensure the reliability of the results. The findings revealed that both oil exports and non-oil exports exert a positive and statistically significant effect on foreign exchange earnings in Nigeria, with oil exports demonstrating a stronger influence due to their dominant share in the export structure. The high explanatory power of the model indicates that variations in export production account for a substantial proportion of changes in foreign exchange earnings, thereby confirming the critical role of exports in Nigeria’s external sector performance. However, the results also underscore the structural weakness associated with excessive dependence on oil exports and the underutilized potential of non-oil exports. Based on these findings, the study recommends that while efforts should be made to deepen oil export efficiency, greater policy emphasis should be placed on diversifying the export base by strengthening non-oil export sectors through improved infrastructure, export financing, and a more conducive business environment to achieve sustainable foreign exchange earnings.

Keywords: Export Production, Oil Exports, Non-Oil Exports, Foreign Exchange Earnings, Nigeria.