Nigeria’s foreign trade maintained its rebound in the second quarter of 2025, recording a surplus of ₦7.46 trillion, the largest in nearly three years. According to figures released by the National Bureau of Statistics (NBS), total trade climbed to ₦38.03 trillion, up 20% from a year ago and 5.6% higher than in the first quarter.
Exports rose sharply to ₦22.75 trillion, while imports slipped slightly to ₦15.29 trillion. Crude oil remained the backbone of trade, contributing ₦11.97 trillion (over half of total exports), though earnings dipped by more than ₦1 trillion from Q1. The decline was offset by stronger non-crude oil sales, especially natural gas and refined petroleum, which together reached ₦10.78 trillion. Non-oil exports also improved to ₦3.05 trillion, accounting for 13.4% of total exports.
Manufactured goods saw the fastest growth, with exports leaping 173% quarter-on-quarter to ₦803.8 billion. Shipments ranged from aluminium alloys sent to Asia to drilling platforms and light vessels exported to Europe and Africa.
Agricultural exports cooled from their Q1 highs, settling at ₦1.26 trillion, driven mainly by cashew nuts and cocoa beans bound for Vietnam, India, and the Netherlands. Raw material exports also softened to ₦819.7 billion, though strong urea sales to Brazil and gold shipments to Switzerland helped sustain performance.
