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Nigeria's Trade Surplus Soars 51% to N5.17 Trillion

6/13/2025

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Summary

Story summary

In Q1 2025, Nigeria celebrated a remarkable trade surplus of N5.17 trillion, soaring 51.07% from the previous quarter. Total trade hit N36.02 trillion, driven by crude oil exports of N20.59 trillion. Meanwhile, imports dipped to N15.42 trillion, with China leading as the top trading partner. Notably, non-oil exports, particularly in agriculture, surged impressively.

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Story summary

In Q1 2025, Nigeria celebrated a remarkable trade surplus of N5.17 trillion, soaring 51.07% from the previous quarter. Total trade hit N36.02 trillion, driven by crude oil exports of N20.59 trillion. Meanwhile, imports dipped to N15.42 trillion, with China leading as the top trading partner. Notably, non-oil exports, particularly in agriculture, surged impressively.