Nigeria's Exports to Africa Surge to N10.72tn in 2026

In the first half of 2026, Nigeria's exports to African countries reached N10.72tn, marking a 122.26% increase from N4.82tn in the same period of 2025. The National Bureau of Statistics reported that crude petroleum, refined fuels, gas products, electricity, and urea constituted 94.75% of these exports, valued at approximately N10.15tn, up from 90.24% valued at N4.35tn in H1 2025.

The oil and gas sector experienced a growth of 133.36%, outpacing the overall export growth. In contrast, non-oil exports, including cement and food preparations, decreased from N309.46bn in H1 2025 to N296.61bn in H1 2026, reducing their share of total exports from 6.42% to 2.77%.

Dr Ayo Teriba, CEO of Economic Associates, cautioned against interpreting these figures without considering the "naira illusion," where devaluation inflates trade values in naira without actual increases in dollar revenue. Historical data shows fluctuations in Nigeria's exports to Africa, with figures rebounding significantly in recent years.