Nigeria’s trade surplus narrows as exports drop and imports rise
Nigeria saw a decrease in exports and an increase in imports, according to the latest data from the National Bureau of Statistics (NBS). The country’s trade surplus persisted, but the value of exports fell, mainly due to reduced crude oil shipments. Imports, on the other hand, continued to climb, with China remaining the largest import partner. The report highlights ongoing shifts in Nigeria’s foreign trade landscape.
TLDR
- Nigeria recorded a trade surplus of ₦1.71 trillion in the fourth quarter of 2025, despite lower export values.
- Total merchandise trade stood at ₦36.21 trillion in Q4 2025, down from ₦36.60 trillion in the corresponding period of 2024 and ₦39.77 trillion in Q3 2025.
- Exports accounted for 52.36% of total trade, valued at ₦18.96 trillion, a 5.25% decrease from the same quarter in 2024 and a 16.88% drop from Q3 2025.
- Crude oil exports fell by 29.60% from ₦13.78 trillion in Q4 2024 to ₦9.70 trillion in Q4 2025, representing 51.17% of total exports.
- Imports rose to ₦17.25 trillion in Q4 2025, a 3.98% increase from Q4 2024 and a 1.73% rise from the previous quarter, with China as the top import partner.
