Nigeria’s trade surplus shrinks to N1.71tn in Q4 2025 as crude exports fall
National Bureau of Statistics NBS
Abdullateef Fowewe
Nigeria’s merchandise trade balance stayed positive but shrank to ₦1,712.48 billion in the fourth quarter of 2025.
This was obtained in a report from the National Bureau of Statistics (NBS) on Tuesday.
Total trade volume dipped to ₦36,214.34 billion, down 1.07% from Q4 2024’s ₦36,604.83 billion and 8.94% from Q3 2025’s ₦39,771.47 billion, Dailyeconomy gathered.
The NBS report attributes the slowdown mainly to falling crude oil exports.
“Exports accounted for 52.36% of total trade with a value of ₦18,963.41 billion, showing a decrease of 5.25% over the value recorded in the corresponding quarter of 2024 (₦20,014.33 billion) and a decrease of 16.88% compared to the value recorded in Q3, 2025 (₦22,813.57 billion,” the agency stated.
Imports edged up slightly to ₦17,250.93 billion, led by manufactured goods at 51% and petroleum products at 23%.
Crude oil still dominated exports at 51% (₦9,702.87 billion), but non-crude petroleum jumped to 32% of total exports (₦6,115 billion), boosted by new refineries like Dangote.
Non-oil sectors, including agriculture at 7%, trailed far behind.
