Nigeria’s Trade Surplus Holds Firm to N17.78tn in 2025

• Oil Still Tells the Real Story

On the import side, machinery and transport equipment accounted for the largest share of Nigeria’s imports, followed by mineral fuels and chemical products.

Asia remained Nigeria’s biggest import source, contributing almost half of total imports, with Europe and the Americas following behind.

At the country level, China continued to dominate Nigeria’s import trade, accounting for over 31% of total imports, followed by the United States, The Netherlands, India, and Brazil.

The most imported items during the quarter included petrol (motor spirit), durum wheat, crude petroleum oils, raw sugar for refining, and used diesel-powered vehicles.

Looking deeper into sectoral trade flows, agricultural imports rose significantly to N1.44 trillion in Q4 2025, while agricultural exports declined year on-year but improved strongly compared with the previous quarter.

Raw material exports also in- creased notably, while imports of raw materials continued to outpace exports, highlighting the country’s reliance on foreign inputs for industrial production. Manufactured trade further reflects this imbalance. Manufactured goods exports fell to N423.43 billion, while imports of manufactured goods climbed to N8.80 trillion, reinforcing Nigeria’s dependence on imported finished products.

Nigeria’s trade performance in 2025 points to a stable but still narrow export structure. While gains in non-oil exports are encouraging, the data shows that oil remains the backbone of export earnings, and the country continues to rely heavily on imports for machinery, industrial inputs, and manufactured goods. Strengthening domestic production and expanding non-oil export capacity will therefore remain critical for building a more balanced and resilient trade profile.