From Adanna Nnamani, Abuja
Nigeria’s foreign trade grew stronger in the first half of 2025, posting a surplus of N12.64 trillion on the back of rising exports and slightly weaker imports.
Figures released by the National Bureau of Statistics (NBS) showed that total trade stood at N74.06 trillion between January and June. Exports accounted for N43.35 trillion, while imports were valued at N30.71 trillion.
The performance was lifted by a robust second quarter, which delivered the highest surplus in almost three years at N7.46 trillion. In that period, trade rose to N38.03 trillion, up 20 per cent year-on-year and 5.6 per cent above the first quarter.
According to the NBS, exports climbed 10.5 per cent to N22.75 trillion, while imports dipped by 0.9 per cent to N15.29 trillion. Crude oil remained the mainstay, earning N11.97 trillion, though down more than N1 trillion from the previous quarter. The shortfall was offset by stronger sales of natural gas, refined petroleum products and manufactured goods, which surged 173 per cent to N803.8 billion.
Non-oil exports also improved, rising to N3.05 trillion or 13.4 per cent of total exports. Agricultural produce slowed to N1.26 trillion after a record performance in Q1, led by shipments of cashew nuts and cocoa beans to Vietnam, India and the Netherlands. Raw material exports stood at N819.7 billion, supported by urea sales to Brazil and gold to Switzerland.
Spain emerged as Nigeria’s top export destination in Q2 with purchases worth N2.47 trillion. It was followed by India, France, the Netherlands and Canada, which together accounted for nearly 40 per cent of Nigeria’s exports. On the import side, China retained the lead with N4.96 trillion, ahead of the United States, India, the Netherlands and the UAE.
Trade within Africa recorded N2.97 trillion in exports and N821.4 billion in imports. Within West Africa, exports reached N1.97 trillion, more than four times imports at N396 billion.
Maritime transport continued to dominate, carrying almost all imports and a significant share of exports. Apapa Port processed the highest volume, with N17.9 trillion in exports and nearly N7 trillion in imports, followed by Lekki and Tin Can Island ports.
Analysts say the figures demonstrate the resilience of the nation’s external sector despite currency challenges and rising import costs.
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