Lagos, Nigeria – Nigeria’s merchandise trade balance remained positive at N1.71 trillion (approximately $1.09 billion) in the fourth quarter of 2025, even as exports declined during the period, according to the National Bureau of Statistics.
Okay News reports that total merchandise trade stood at N36.21 trillion in Q4 2025, representing a 1.07 percent decline from N36.60 trillion recorded in Q4 2024 and an 8.94 percent drop from N39.77 trillion in Q3 2025. The decline was largely driven by lower crude oil exports, which continued to weigh on Nigeria’s overall trade performance.
Data from the NBS shows that exports accounted for 52.36 percent of total trade, with a value of N18.96 trillion in Q4 2025. This represents a 5.25 percent decrease compared to N20.01 trillion recorded in Q4 2024 and a 16.88 percent decline from N22.81 trillion in Q3 2025. Despite the export contraction, the trade surplus remained strong, indicating that imports fell more sharply during the quarter.
This trade surplus resilience reflects underlying strengths in Nigeria’s external sector even amid volatile crude oil earnings and global economic uncertainties.
 in the fourth quarter of 2025, even as exports declined during the period, according to the National Bureau of Statistics.){kind=link}