Nigeria recorded total merchandise trade worth N41.44 trillion in the second quarter of 2026, with exports significantly outweighing imports, according to data from the National Bureau of Statistics, NBS.
The NBS Foreign Trade in Goods Statistics for Q2 2026 showed that the country’s exports stood at N27.02 trillion, while imports were valued at N14.42 trillion.
This resulted in a trade surplus of N12.60 trillion during the quarter.
The data showed that crude oil remained a major driver of Nigeria’s export earnings, contributing N12.91 trillion, representing 47.79 per cent of total exports.
Other petroleum oil products accounted for N10.38 trillion, or 38.40 per cent, while raw materials goods contributed N2.31 trillion, representing 8.53 per cent.
Agricultural goods accounted for N802.99 billion, while manufactured goods stood at N393.03 billion. Solid minerals goods contributed N146.91 billion, while energy goods accounted for N81.35 billion.
On the import side, manufactured goods dominated Nigeria’s imports at N9.51 trillion, representing 65.94 per cent of total imports.
Raw materials goods followed with N1.79 trillion, or 12.41 per cent, while agricultural goods accounted for N1.20 trillion, representing 8.35 per cent.
Other petroleum oil products contributed N1.08 trillion, while crude oil imports stood at N786.73 billion.
Solid minerals goods accounted for N56.99 billion, while energy goods recorded a negligible N70 million in imports.
The latest figures underscore Nigeria’s continued dependence on crude oil and petroleum products for export earnings, even as manufactured and agricultural goods account for a larger share of the country’s imports.
Nigeria recorded total merchandise trade worth N41.44 trillion in the second quarter of 2026, with exports significantly outweighing imports, according to data from the National Bureau of Statistics, NBS.
The NBS Foreign Trade in Goods Statistics for Q2 2026 showed that the country’s exports stood at N27.02 trillion, while imports were valued at N14.42 trillion.
This resulted in a trade surplus of N12.60 trillion during the quarter.
The data showed that crude oil remained a major driver of Nigeria’s export earnings, contributing N12.91 trillion, representing 47.79 per cent of total exports.
Other petroleum oil products accounted for N10.38 trillion, or 38.40 per cent, while raw materials goods contributed N2.31 trillion, representing 8.53 per cent.
Agricultural goods accounted for N802.99 billion, while manufactured goods stood at N393.03 billion. Solid minerals goods contributed N146.91 billion, while energy goods accounted for N81.35 billion.
On the import side, manufactured goods dominated Nigeria’s imports at N9.51 trillion, representing 65.94 per cent of total imports.
Raw materials goods followed with N1.79 trillion, or 12.41 per cent, while agricultural goods accounted for N1.20 trillion, representing 8.35 per cent.
Other petroleum oil products contributed N1.08 trillion, while crude oil imports stood at N786.73 billion.
Solid minerals goods accounted for N56.99 billion, while energy goods recorded a negligible N70 million in imports.
The latest figures underscore Nigeria’s continued dependence on crude oil and petroleum products for export earnings, even as manufactured and agricultural goods account for a larger share of the country’s imports.
Nigeria records N12.6tn surplus as total trade hits N41.44tn