In Q2, Nigeria records N7.5trn trade surplus in 2025

Naira devaluation is probably the most potent weapon against the prosperity of Nigerians. Nigeria’s migration from a potential industrial power house with bustling social affluence, to a subdued and stumbling economy clearly began with the adoption of IMF’s Structural Adjustment Programme during Babangida’s regime: the chorus from International Agencies, at that time, was also that falling oil prices with an unserviced debt burden and the consequent restriction of trade credit to Nigeria, were the products of an allegedly overvalued Naira exchange rate.

Nigeria recorded N7.5 trillion trade surplus in the second quarter of 2025 (Q1’25).

This represents a 52 percent quarter-on-quarter (QoQ) rise when compared to N5.17 trillion recorded in Q1’25.

The National Bureau of Statistics, NBS, disclosed this today in its Foreign Trade in Goods Statistics Report for Q2’25 released on its X handle.

According to the report, the country’s total merchandise trade stood at N38.037 trillion in Q2’25, representing an increase of 5.5 percent compared to the N36.024 trillion recorded in Q1’25.

Data from the Bureau showed that the value of total imports stood at N15.28 trillion in Q2’25, representing a decline of 0.9 percent from the value recorded in Q1’25(N15.42 trillion) .

NBS noted that exports in Q2’25 were valued at N22.75 trillion N20.59 trillion, reflecting a 10.49 percent rise QoQ compared to N20.59 trillion in Q1’25.

The data showed that Nigeria’s exports trade was dominated by crude oil in Q2’25 valued at N11.96 trillion representing N12.95 trillion representing 62.89 percent of total exports while the value of non-crude oil exports stood at N10.78 trillion.

By Elizabeth Adegbesan