Nigeria’s complete merchandise commerce rose to N38.9 trillion within the third quarter of 2025, reflecting regular momentum within the nation’s exterior sector regardless of international financial uncertainties.
That is in accordance with the newest Overseas Commerce in Items Statistics report by the Nationwide Bureau of Statistics (NBS).
The newest figures signify an 8.71% improve from the N35.8 trillion recorded within the corresponding quarter of 2024 and a 2.36% rise in comparison with the N38.04 trillion posted within the second quarter of 2025.
Within the quarter underneath evaluation, exports accounted for 58.59% of complete commerce with a price of N22,8 trillion, exhibiting a rise of 11.08% over the worth recorded within the corresponding quarter of 2024 (N20.54 trillion) and by 0.28% in comparison with the worth recorded in Q2, 2025 (N22.75 trillion).
Oil exports drive commerce surplus
Nigeria’s complete exports for the third quarter of 2025 stood at N22.8 trillion, marking an 11.08% improve from the N20.54 trillion recorded within the corresponding quarter of 2024, and a 0.28% rise over the N22.75 trillion recorded in Q2 2025.
In keeping with the NBS, crude oil remained Nigeria’s dominant export commodity, with a price of N12.81 trillion, representing 56.14% of complete exports for Q3 2025.
An additional breakdown exhibits that non-crude oil exports totalled N10.01 trillion, accounting for 43.86% of complete exports.
Inside this class, non-oil merchandise contributed N2.9 trillion, or 13.14% of complete exports.
Exports of agricultural produce amounted to N786.62 billion, reflecting an 11.69% decline from N890.72 billion in Q3 2024 and a 37.39% drop in comparison with N1.26 trillion in Q2 2025.
Uncooked materials exports had been valued at N1.04 trillion, representing a big 136.38% improve from N439.82 billion in Q3 2024 and a 26.83% rise in comparison with N819.72 billion in Q2 2025.
Strong mineral exports amounted to N100.81 billion, exhibiting a 29.75% improve from N77.70 billion in Q3 2024 and an extra 30.41% development from N77.31 billion reported in Q2 2025.
The worth of manufactured items exports stood at N978.53 billion, reflecting a 6.03% decline from N1.04 trillion in Q3 2024. Nonetheless, in comparison with Q2 2025, this represents a 21.74% improve over the N803.81 billion recorded within the earlier quarter.
Exports of different oil merchandise in Q3 2025 totalled N7.01 trillion, exhibiting a considerable 51.72% rise from N4.62 trillion in Q3 2024, however representing a 9.42% decline from the N7.74 trillion recorded in Q2 2025.
Total, the export information for Q3 2025 reveal a combined efficiency throughout sectors, with robust positive factors in uncooked supplies and stable minerals contrasting declines in agricultural exports and a few oil-related classes.
Commerce surplus declines to N6.69 trillion
Imports accounted for 41.41% of Nigeria’s complete commerce within the third quarter of 2025, reaching N16.12 trillion. This represents a 5.51% improve from the N15.28 trillion recorded in Q3 2024, in addition to a 5.47% rise in comparison with N15.29 trillion within the earlier quarter.
Regardless of the expansion in imports, Nigeria maintained a optimistic merchandise commerce stability in Q3 2025.
The commerce surplus stood at N6.69 trillion, although this displays a ten.36% decline from the N7.46 trillion posted in Q2 2025, largely because of the sooner tempo of import development relative to exports.
China nonetheless leads as Nigeria’s largest buying and selling accomplice
The NBS information exhibits that on the import aspect, China remained Nigeria’s main buying and selling accomplice in Q3 2025, adopted by america, India, the United Arab Emirates, and Belgium.
Essentially the most imported commodities in the course of the quarter included petroleum oils and oils obtained from bituminous minerals (crude), fuel oil, premium motor spirit (petrol), durum wheat, and cane sugar supposed for sugar refining.
On the export aspect, Nigeria’s prime 5 buying and selling companions had been India, Spain, France, the Netherlands, and Italy. The main commodities exported within the quarter had been crude oil, pure fuel, different petroleum gases in a gaseous state, kerosene-type jet gas, and urea, whether or not or not in aqueous answer.
What this implies
The rise in complete merchandise commerce—up 8.71% year-on-year—means that Nigeria’s exterior sector is regaining momentum regardless of international financial headwinds. Greater commerce volumes level to improved manufacturing ranges, stronger demand for Nigerian commodities, and higher exercise on the ports.
Exports proceed to drive commerce efficiency, supported largely by crude oil and different petroleum merchandise. The rise in complete exports indicators resilience in Nigeria’s primary revenue-generating sectors.
Nonetheless, the decline in agricultural exports exposes ongoing challenges in logistics, manufacturing, and value-chain competitiveness—an space requiring pressing coverage consideration.
With crude oil accounting for over 56% of complete exports, Nigeria’s commerce efficiency remains to be extremely susceptible to fluctuations in international oil costs and manufacturing ranges. Whereas non-oil exports are increasing, their share stays too small to considerably cut back the nation’s dependence on hydrocarbons.
The presence of India, Spain, France, the Netherlands, and Italy amongst Nigeria’s prime export locations exhibits that demand from key international consumers stays steady. That is encouraging for export planning and income projections.