Nigeria’s total merchandise trade for the first quarter of 2025 has surged to ₦36.02 trillion, reflecting a 6.19% increase compared to the ₦33.92 trillion recorded during the same period in 2024, according to the latest data released by the National Bureau of Statistics (NBS).
The figures, which signal a gradual rebound in external trade activities, capture both import and export transactions across all sectors, indicating a modest but steady improvement in Nigeria’s trade performance despite global economic uncertainties.
Analysts say the growth is largely driven by improvements in oil exports, a steady rise in non-oil exports, and increased demand for Nigerian agricultural produce and solid minerals. Nigeria’s crude oil sales remained a key contributor to export earnings, while the non-oil segment continued to gain traction through expanded trade in manufactured goods, textiles, and food commodities.
On the import side, the increase is partly attributed to higher costs of machinery, refined petroleum products, and raw materials, alongside exchange rate fluctuations which have impacted import values.
Economic observers believe this positive trade trajectory reinforces Nigeria’s gradual recovery path and underlines the government’s push toward diversification and trade facilitation. The Federal Government has continued to prioritise export incentives and infrastructure development, especially around seaports, free trade zones, and digital customs operations to boost the country’s competitiveness.
The data also underscores Nigeria’s continued role as a strategic trade player in Africa, particularly under the framework of the African Continental Free Trade Area (AfCFTA), where regional trade linkages are being strengthened.
With Q2 projections already looking upbeat due to seasonal agricultural exports and increasing global oil demand, experts say sustaining this momentum will require consistent policy reforms, reduction in trade bottlenecks, and support for local industries to thrive in the international market.
