NBS REPORT: Nigeria posts trade surplus in Q4 2025 as oil dominates exports

Business

Lagos, Nigeria (NPA Business) — March 10, 2026 — Nigeria’s National Bureau of Statistics (NBS) on Tuesday released its latest trade data, showing the country recorded a positive trade balance in the fourth quarter of 2025.

According to the NBS, total trade in goods during the period stood at N36,214.34 billion, with imports valued at N17,250.93 billion and exports at N18,963.41 billion. This resulted in a trade surplus of N1,712.48 billion.

Crude oil remained Nigeria’s dominant export, accounting for about half of total exports. Agricultural products such as cocoa, sesame, and cashew contributed roughly one‑third, while other categories — including raw materials, manufactured goods, and solid minerals — made up smaller shares.

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On the import side, manufactured goods represented the largest category at 51%, followed by petroleum products at 23%, raw materials at 14%, and agricultural goods at 8%. Solid minerals accounted for less than one per cent.

Exports were similarly concentrated, with crude oil at 51%, agricultural goods at 32%, other petroleum products at 7%, raw materials at 6%, manufactured goods at 2%, and solid minerals at less than one per cent.

The report underscores Nigeria’s continued reliance on oil exports while highlighting the growing role of agriculture. At the same time, the country remains heavily dependent on imports of manufactured goods, reflecting limited domestic industrial output.