Nigeria Trade Surplus Hits N12.60 Trillion as Exports Surge

Nigeria trade surplus reached N12.60 trillion in the second quarter of 2026, as exports continued to outpace imports, according to the National Bureau of Statistics (NBS).

The country recorded total merchandise trade worth N41.44 trillion between April and June 2026.

According to the NBS Foreign Trade in Goods Statistics for the quarter, Nigeria exported goods worth N27.02 trillion. Imports, meanwhile, stood at N14.42 trillion.

The figures produced a strong trade surplus of N12.60 trillion.

In simple terms, Nigeria sold more goods abroad than it bought during the period. This helped push the country’s trade balance further into positive territory.

Crude oil remained a major force behind the export figures. The commodity generated N12.91 trillion, accounting for 47.79% of Nigeria’s total exports.

The latest figures again highlight the importance of oil to Nigeria’s foreign trade. Despite efforts to expand non-oil exports, crude oil still provides a large share of the country’s export earnings.

However, the figures also raise questions about the strength and sustainability of Nigeria’s trade position.

A large dependence on crude oil leaves export earnings exposed to changes in global oil prices and production levels. As a result, analysts and policymakers continue to push for greater diversification.

Nigeria’s N12.60 trillion trade surplus therefore presents both an opportunity and a challenge.

The surplus shows that exports remain strong. At the same time, the heavy contribution from crude oil underlines the need to develop other productive sectors.

Agriculture, manufacturing and other non-oil industries could play a bigger role in future export growth.

For now, the NBS figures show a Nigerian economy that earned significantly more from merchandise exports than it spent on imports during the second quarter.