How Nigeria’s Export Rose Year-on-Year by 28.43% in Q2 2025
According to the National Bureau of Statistics (NBS) report on Foreign Trade in Goods for the second quarter of 2025, Nigeria recorded a trade surplus largely supported by increased petroleum exports. The country’s total trade in goods reached ₦38.04 trillion, representing a 20.05% rise compared to ₦31.68 trillion in the same quarter of 2024. The trade balance remained positive at ₦7.46 trillion, marking a 44.31% improvement from the previous quarter.
Imports were valued at ₦15.29 trillion, which shows a 9.43% increase from Q2 2024 but a slight decline of 0.90% from Q1 2025, when imports stood at ₦15.43 trillion. China continued to be Nigeria’s main import source, followed by the United States and India. Major imported commodities included motor spirit (ordinary), crude petroleum oils, durum wheat, telecommunications equipment, and gas oil. Agricultural imports also grew by 32.60% year-on-year.
On the export side, total Nigeria’s exports amounted to ₦22.75 trillion—an increase of 28.43% compared with Q2 2024 and 10.45% higher than in Q1 2025. Crude oil exports remained dominant, valued at ₦11.97 trillion and accounting for 52.6% of total exports. Other key export items were natural gas, petroleum gases in gaseous form, liquefied petroleum gases, gaseous hydrocarbons, and kerosene-type jet fuel. The main export destinations were Spain, India, France, the Netherlands, and Canada. Although agricultural exports rose 29.03% from the same period in 2024, they declined by 26.28% compared to the previous quarter.
While the current surplus underscores the strength of petroleum exports, Nigeria’s long-term trade sustainability will depend on diversifying its export base. Expanding non-oil sectors and improving agricultural value chains can help reduce dependence on crude oil, shield the economy from global oil price volatility, and foster steady trade growth over time.
