By Ikugbadi Oluwasegun
Nigeria’s trade surplus soared by 44.31% in the second quarter of 2025, reaching ₦7,463.96 billion, according to the latest data from the National Bureau of Statistics (NBS).
The figures released Friday showed that the country’s total merchandise trade rose to ₦38,037.52 billion, marking a 20.05% increase from ₦31,683.75 billion in Q2 2024 and a 5.59% rise from ₦36,024.66 billion in Q1 2025.
Exports, which accounted for 59.81% of total trade, grew by 28.43% to ₦22,750.74 billion compared to ₦17,714.41 billion in Q2 2024, and by 10.45% from ₦20,598.48 billion in Q1 2025.
Crude oil dominated exports, contributing ₦11,965.98 billion or 52.60% of the total, while non-crude oil exports reached ₦10,784.76 billion, with non-oil products making up ₦3,045.55 billion or 13.39% of total exports.
Imports, representing 40.19% of trade, totaled ₦15,286.78 billion, up 9.43% from ₦13,969.34 billion in Q2 2024 but slightly down by 0.90% from ₦15,426.17 billion in Q1 2025.
The robust trade performance underscores Nigeria’s strengthening position in global markets, driven by significant growth in both oil and non-oil exports.
