Nigeria's Trade Surplus Hits N7.54 Trillion in Q1 2026

In the first quarter of 2026, Nigeria achieved a trade surplus of N7.54 trillion, as total trade value increased to N21.16 trillion, marking an 11.63% rise from Q4 2025. Imports accounted for 39.15% of total trade, valued at N13.61 trillion, reflecting an 18.17% decrease compared to N16.64 trillion in Q1 2025.

Crude oil was the major export commodity, valued at N11.2 trillion, representing 52.92% of total exports. Non-crude oil exports reached N9.96 trillion, with agricultural goods contributing N1.17 trillion, showing a decline from previous quarters.

China remained the leading source of imports, with significant imports including petroleum products and machinery. The import value of agricultural goods was N827.72 billion, down 20.09% from Q1 2025.

The top five trade partners for Nigeria included India, France, the Netherlands, Spain, and the United States.