Nigeria’s trade position strengthened in the first quarter of 2026, with the country recording a surplus of N7.549 trillion, compared with a much smaller figure reported for the earlier period. The National Bureau of Statistics (NBS) said this in its “Foreign Trade in Goods” release published on Monday.
In the quarter, total exports were valued at N21.169 trillion, while imports came in at N13.619 trillion. That left a trade balance of about N7.5 trillion for Q1 2026, reflecting stronger export receipts alongside lower import outlays.
The export performance showed an increase on both annual and quarterly comparisons. The NBS said exports rose by 2.77% versus the same quarter of 2025, when shipments were recorded at N20,598.48 billion. On a sequential basis, exports were also up 11.63% compared with Q4 2025, when they totaled N18,963.41 billion.
Imports moved in the opposite direction. Total imports fell by 18.17% relative to the value recorded in the corresponding quarter of 2025, which stood at N16,644.42 billion. The NBS added that imports were down 21.05% compared with Q4 2025, when they were valued at N17,250.93 billion.
“Total exports in Q1 2026 were valued at N21,169.27 billion, representing a 2.77% increase compared with N20,598.48 billion in the corresponding quarter of 2025, and an 11.63% rise compared with N18,963.41 billion in Q4 2025,” the NBS said.
“The value of total imports stood at N13,619.33 billion in the first quarter of 2026, indicating an 18.17% decrease from N16,644.42 billion in the corresponding quarter of 2025, and a 21.05% drop compared with N17,250.93 billion in Q4 2025,” it added.
For the quarter, the NBS said the leading export items were crude oil (52.92%), along with natural gas, urea, other petroleum gases, and kerosene jet fuel. On the import side, the main categories included crude oil, gas oil, durum wheat, machines, and used vehicles.
