Abuja, Nigeria – June 26, 2025 – Nigeria has emerged as West Africa’s top performer in intra-African trade, recording a substantial $18.4 billion in trade volume with other African countries in 2024, according to the 2025 African Trade Report released by the African Export-Import Bank (Afreximbank).
This figure represents a remarkable 127% increase from the $8.1 billion recorded in 2023, highlighting Nigeria’s expanding role in the continent’s economic integration and trade development.
The report, unveiled during the Afreximbank Annual Meetings (AAM2025), credits the surge to the growing adoption of the African Continental Free Trade Area (AfCFTA) framework and Nigeria’s renewed focus on regional trade engagement.
Nigeria’s trade figures helped push the total value of intra-African trade to $220.3 billion in 2024, up from $196 billion the previous year. West Africa accounted for $52.8 billion of that total, with Nigeria contributing the largest share.
Oil remained Nigeria’s leading export commodity, but the report also noted the rising significance of refined petroleum products, particularly following the commissioning of the Dangote Refinery, which has begun exporting to countries such as Cameroon.
Afreximbank President, Prof. Benedict Oramah, commended Nigeria’s strides in the trade sector, attributing the success to policy reforms, improved access to capital, and a renewed commitment to boosting productivity and competitiveness within the region.
“The Nigerian government’s swift regulatory responses and consistent capital contributions have strengthened its trade capacity, making Nigeria a cornerstone of African trade growth,” Prof. Oramah stated.
The report also acknowledged Nigeria’s total trade (including global partners) rose to $50.4 billion in 2024, despite economic pressures such as currency depreciation and the removal of fuel subsidies.
Nigeria leads West Africa with $18.4 billion in intra-African trade.
Represents a 127% year-on-year increase.
Dangote Refinery cited as a key driver of export diversification.
Nigeria’s trade performance strengthens AfCFTA implementation momentum.
With this development, Nigeria now ranks among the continent’s leading intra-African traders, alongside South Africa, Egypt, Morocco, and Côte d’Ivoire. Analysts say this trend reinforces the potential of regional trade as a powerful engine for economic growth and resilience across Africa.