In the first quarter of 2025, Nigeria’s total trade with international markets reached an impressive N36 trillion, according to the National Bureau of Statistics (NBS).
The report highlights that Nigeria exported goods valued at N20.598 trillion while imports totalled N15.426 trillion, resulting in a trade surplus of N5.172 trillion for the period.
Crude oil sales led the exports, contributing N12.955 trillion, while agricultural products, particularly cocoa beans, accounted for N1.74 trillion. This represents a 6.19% increase from the N33.93 trillion recorded in the same period of 2024, although it reflects a slight decline of 1.58% compared to the previous quarter.
Exports comprised 57.18% of total trade, marking a 7.42% rise compared to the first quarter of 2024 and a 2.92% increase from the last quarter of 2024.