Nigeria’s total merchandise trade rose to ₦38,037.52 billion in Q2 2025, marking a 20.05% increase compared to ₦31,683.75 billion recorded in the same period last year, according to the National Bureau of Statistics (NBS).
Exports surged to ₦22,750.74 billion, while imports stood at ₦15,286.78 billion, leaving the country with a positive trade balance of ₦7,463.96 billion. Crude oil remained the backbone of Nigeria’s external trade, accounting for ₦11,965.98 billion (52.6%) of exports, followed by other petroleum products at ₦7,739.22 billion (34%). Non-oil exports contributed ₦3,045.55 billion, with agricultural goods (₦1,256.36 billion) and manufactured products (₦803.81 billion) playing notable roles.
On the import side, manufactured goods dominated with ₦7,883.33 billion (51.6%), followed by other petroleum oil products at ₦2,786.18 billion (18.2%). Raw materials accounted for ₦1,719.35 billion (11.3%), while agricultural imports stood at ₦1,184.42 billion (7.8%). The data underscores Nigeria’s continued reliance on oil exports but also highlights a growing trade diversification agenda.