Nigeria’s merchandise trade reached N41.44 trillion in the second quarter of 2026, as exports more than offset imports, National Bureau of Statistics data showed. Export shipments were valued at N27.02 trillion, compared with imports of N14.42 trillion, producing a quarterly trade surplus of N12.60 trillion.
Crude oil remained the largest source of export revenue, generating N12.91 trillion, equivalent to 47.79 per cent of all exports. Other petroleum products added N10.38 trillion, or 38.40 per cent, while raw-material exports were valued at N2.31 trillion, representing 8.53 per cent of the total.
Agricultural exports amounted to N802.99 billion, with manufactured goods contributing N393.03 billion. Solid-mineral exports were worth N146.91 billion, while energy-related goods accounted for N81.35 billion.
Manufactured products made up the largest portion of imports, at N9.51 trillion or 65.94 per cent of the total. Imports of raw materials reached N1.79 trillion, representing 12.41 per cent, and agricultural imports stood at N1.20 trillion, equivalent to 8.35 per cent.
Imports of other petroleum products were valued at N1.08 trillion, while crude-oil purchases totalled N786.73 billion. Solid-mineral imports came to N56.99 billion, and energy-goods imports were negligible at N70 million.
The figures highlight Nigeria’s ongoing reliance on crude oil and refined petroleum products to generate export income. At the same time, manufactured and agricultural products constitute a substantially larger share of the country’s import bill, underscoring the imbalance between its export and import structures.
