Nigeria’s total merchandise trade rose to N38.9 trillion in the third quarter of 2025, reflecting steady activity in the country’s external sector despite global economic uncertainty, according to new data from the National Bureau of Statistics.
Okay News reports that the latest figures show an 8.71% increase from the N35.8 trillion recorded in Q3 2024, and a 2.36% rise compared to the N38.04 trillion posted in Q2 2025.
Exports accounted for 58.59% of total trade, reaching N22.8 trillion. The NBS said this represents an 11.08% increase from the same period in 2024 and a slight 0.28% rise from the previous quarter.
Crude oil remained Nigeria’s dominant export at N12.81 trillion, amounting to 56.14% of all exports. Non-crude oil exports stood at N10.01 trillion, while non-oil products contributed N2.9 trillion.
Agricultural exports fell to N786.62 billion, an 11.69% drop from Q3 2024 and a 37.39% decline from Q2 2025. Raw material exports rose sharply to N1.04 trillion, more than doubling year-on-year. Solid mineral exports reached N100.81 billion, while manufactured goods exports totalled N978.53 billion.
The report also showed that exports of other oil products hit N7.01 trillion, a significant increase year-on-year despite a decline compared to Q2.
Imports reached N16.12 trillion in Q3 2025, accounting for 41.41% of total trade. This reflects a 5.51% rise from Q3 2024 and a 5.47% increase from the previous quarter. Nigeria maintained a trade surplus of N6.69 trillion, though lower than the N7.46 trillion recorded in Q2 due to faster import growth.
China remained Nigeria’s largest import partner, followed by the United States, India, the UAE, and Belgium. Top import items included crude petroleum oils, gas oil, petrol, durum wheat, and cane sugar.
On the export side, Nigeria’s leading destinations were India, Spain, France, the Netherlands, and Italy. Major export products included crude oil, natural gas, petroleum gases, jet fuel, and urea.
