Nigeria earned N37.73 trillion from crude oil exports in the first nine months of 2025. The National Bureau of Statistics (NBS), the country’s official data agency, reported these figures in its latest foreign trade statistics.
Okay News reports that the earnings remained stable across the three quarters. Crude oil exports generated consistent revenue despite global market conditions.
First-quarter exports reached N12.96 trillion. Second-quarter figures stood at N11.97 trillion.
Third-quarter crude oil exports totaled N12.81 trillion. These quarterly amounts combined to N37.73 trillion from January to September.
The NBS data shows a steady upward trend in annual crude oil earnings over recent years. Revenues rose from N9.44 trillion in 2020 to N14.41 trillion in 2021.
Earnings continued climbing to N21.10 trillion in 2022 and N29.00 trillion in 2023. The peak came in 2024 with N55.29 trillion.
Non-oil exports grew significantly to N9.2 trillion in the same nine-month period. This marks a 48 percent increase year-on-year.
Despite the rise, non-oil goods represented only 12 to 14 percent of total exports. Crude oil continued to dominate Nigeria’s trade earnings.
These results highlight the economy’s ongoing reliance on oil for foreign exchange and government revenue. Stable performance supports short-term currency and fiscal stability.
Rapid non-oil growth offers diversification potential. Yet oil remains critical to Nigeria’s external balance.
The sustained oil dominance underscores vulnerability to global price fluctuations while structural challenges persist in the sector.
