Nigeria's trade surplus just took a hit last quarter. The National Bureau of Statistics reported a 10.36 percent drop, falling from 7.4 trillion naira to 6.69 trillion naira in the third quarter of 2025. This happened even though the total trade value increased to nearly 39 trillion naira. Exports were worth about 22.81 trillion naira against imports of 16.12 trillion naira.
Crude oil remained the biggest export earner, pulling in 12.8 trillion naira and making up over half of all exports. Non-crude oil exports, including other products, accounted for the rest. The top import categories were mineral fuels, machinery, transport equipment, and chemicals. India was the leading export destination, followed by Spain, France, the Netherlands, and Italy. For imports, China was the main partner, supplying nearly thirty percent of goods, with the United States, India, the United Arab Emirates, and Belgium following behind.
Crude oil remained the biggest export earner, pulling in 12.8 trillion naira and making up over half of all exports. Non-crude oil exports, including other products, accounted for the rest. The top import categories were mineral fuels, machinery, transport equipment, and chemicals. India was the leading export destination, followed by Spain, France, the Netherlands, and Italy. For imports, China was the main partner, supplying nearly thirty percent of goods, with the United States, India, the United Arab Emirates, and Belgium following behind.
