Nigeria’s trade surplus doubles to N12.6tn as exports surge

Nigeria’s merchandise trade surplus more than doubled to N12.60tn in the second quarter of 2026, driven by stronger exports and a year-on-year decline in imports, the National Bureau of Statistics has disclosed.

The NBS, in its Foreign Trade in Goods Statistics report published on Monday, said the country’s total merchandise trade rose to N41.44tn in Q2 2026, representing a 5.61 per cent increase from N39.24tn recorded in the corresponding quarter of 2025. It was also 19.13 per cent higher than the N34.79tn recorded in Q1 2026.

Exports accounted for 65.20 per cent of total trade at N27.02tn, rising by 18.77 per cent from N22.75tn in Q2 2025 and 27.64 per cent from N21.17tn in the preceding quarter.

Imports, meanwhile, stood at N14.42tn, representing 34.80 per cent of total trade. The figure declined by 12.55 per cent from N16.49tn a year earlier but increased by 5.91 per cent from N13.62tn in Q1 2026.

The NBS said, “The merchandise trade balance remained positive at N12.6tn in Q2 2026, representing a 101.32 per cent increase compared with the value recorded in the corresponding quarter of 2025.”