Odimmegwa Johnpeter/Abuja
Nigeria’s total exports surged to ₦27.02 trillion in the second quarter of 2026, widening the country’s trade surplus as export earnings continued to outpace imports, according to the latest Foreign Trade in Goods Statistics released by the National Bureau of Statistics (NBS).
The NBS report showed that total merchandise trade stood at ₦41.44 trillion during the quarter, representing a 5.61 per cent increase from ₦39.24 trillion recorded in the corresponding quarter of 2025.
Exports accounted for 65.20 per cent of total trade, while imports stood at ₦14.42 trillion.
The value of exports increased by 18.77 per cent from ₦22.75 trillion recorded in Q2 2025 and rose by 27.64 per cent compared with ₦21.17 trillion recorded in Q1 2026.
The development resulted in a trade surplus of about ₦12.60 trillion during the quarter.
Crude oil remained Nigeria’s dominant export, valued at ₦12.91 trillion and accounting for 47.79 per cent of total exports. Other oil products contributed ₦10.38 trillion, representing 38.40 per cent of exports.
The NBS said non-crude oil exports were valued at ₦14.11 trillion, accounting for 52.21 per cent of total exports.
Raw material exports stood at ₦2.31 trillion, representing a significant 90.03 per cent increase from ₦1.21 trillion recorded in Q2 2025.
Agricultural exports, however, declined to ₦802.99 billion, representing a 36.09 per cent decrease from ₦1.26 trillion recorded in the corresponding quarter of 2025.
Manufactured goods exports stood at ₦393.03 billion, while solid mineral exports reached ₦146.91 billion.
On the import side, Nigeria imported goods worth ₦14.42 trillion in Q2 2026, representing a 12.55 per cent decline from ₦16.49 trillion recorded in Q2 2025, but a 5.91 per cent increase compared with ₦13.62 trillion recorded in Q1 2026.
Manufactured goods accounted for the largest share of imports at ₦9.51 trillion, representing 65.91 per cent of total imports.
Raw material imports stood at ₦1.79 trillion, while agricultural goods imports amounted to ₦1.20 trillion, representing 8.35 per cent of total imports.
Imports of other oil products stood at ₦1.08 trillion, while solid mineral imports were valued at ₦56.99 billion.
China remained Nigeria’s largest source of imports during the quarter, supplying goods worth ₦5.92 trillion, equivalent to 41.02 per cent of total imports.
The United States followed with ₦1.01 trillion, while India supplied goods worth ₦924.46 billion. The Netherlands and Germany accounted for ₦409.81 billion and ₦395.87 billion respectively.
On the export side, India emerged as Nigeria’s leading destination, receiving goods worth ₦6.40 trillion, or 23.67 per cent of total exports.
Spain followed with ₦1.98 trillion, the Netherlands with ₦1.90 trillion, the United States with ₦1.73 trillion and Togo with ₦1.50 trillion.
Asia remained Nigeria’s largest export destination, accounting for ₦8.72 trillion, or 32.29 per cent of total exports, while Europe accounted for ₦8.07 trillion.
Nigeria exported goods worth ₦6.65 trillion to African countries, with ECOWAS member states accounting for ₦3.75 trillion.
The NBS data showed that mineral products dominated Nigeria’s exports, valued at ₦23.52 trillion, representing 87.04 per cent of total exports.
Crude oil, gasoil, kerosene-type jet fuel, motor spirit and urea were among the major commodities driving export earnings during the quarter.
By mode of transportation, maritime transport dominated both exports and imports. Sea transport accounted for ₦26.75 trillion, or 98.99 per cent of total exports, while imports moved by sea were valued at ₦13.66 trillion, representing 94.74 per cent of total imports.
Apapa Port handled the highest value of exports at ₦19.07 trillion, representing 70.57 per cent of total exports, while it also recorded imports worth ₦6.46 trillion.
The latest figures underscore the continued dominance of crude oil and petroleum-related products in Nigeria’s external trade, despite growth recorded in raw material and other non-oil export categories.
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