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Nigeria’s Trade Surplus Rises By 44% In Q2

BY CHIKA OKEKE, Abuja
Nigeria’s trade surplus rose by 44 percent in the second quarter (Q2) of 2025, compared to the value recorded in the first quarter (Q1). 

The total merchandise trade stood at ₦38,037.52 billion in Q2, 2025, an increase of 20.05% over the  ₦31,683.75 billion recorded in the corresponding period of 2024.

It also represented an increase by 5.59% compared to the value recorded in the preceding quarter (₦36,024.66 billion).

In the quarter under review, exports accounted for 59.81% of total trade with a value of ₦22,750.74 billion, showing an increase of 28.43% over the value recorded in the corresponding quarter of 2024 (₦17,714.41 billion) and by 10.45% compared to the value recorded in Q1, 2025 (₦20,598.48 billion).

Crude oil accounted for ₦11,965.98 billion, representing 52.60% of total exports. Non-crude oil exports stood at ₦10,784.76 billion, accounting for 47.40% of total exports; of which non-oil products contributed ₦3,045.55 billion or 13.39% of total exports.

Imports accounted for 40.19% of total trade in the second quarter of 2025, with a value of ₦15,286.78 billion representing a 9.43% increase, compared to ₦13,969.34 billion recorded in Q2 2024, and 0.90% decrease from ₦15,426.17 billion recorded in Q1 2025.

According to National Bureau of Statistics (NBS), the merchandise trade balance for Q2 2025 remained positive at ₦7,463.96 billion, indicating an increase of 44.31% percent. 

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