Nigeria's Trade Surplus Reaches N12.60tn in Q2 2026

In the second quarter of 2026, Nigeria's merchandise trade surplus expanded to N12.60 trillion, as reported by the National Bureau of Statistics. This increase was attributed to a significant rise in exports, which surged by 18.77% to N27.02 trillion, while imports decreased to N14.42 trillion, down 12.55% from the previous year.

The total merchandise trade for the quarter reached N41.44 trillion, marking a 5.61% increase from N39.24 trillion in Q2 2025. Crude oil exports generated N12.91 trillion, constituting 47.79% of total exports, with a year-on-year increase of 7.93%.

Other oil products saw a 34.08% increase to N10.38 trillion. However, agricultural exports fell by 36.09% to N802.99 billion, and manufactured exports dropped by 51.10% to N393.03 billion.

China remained the largest supplier of imports to Nigeria, providing N5.92 trillion, or 41.02% of total imports.