NBS: Nigeria recorded N6trn trade surplus in Q3

The National Bureau of Statistics (NBS) says Nigeria recorded a trade surplus of N6.69 trillion in the third quarter (Q3) of 2025.

The figure indicates a decrease of 10.36 percent compared to the N7.4 trillion recorded in the preceding quarter.
A trade surplus occurs when a country’s exports exceed imports.

The bureau said total trade was N38.93 trillion in the period examined.

“Nigeria’s total merchandise trade stood at ₦38,936.55 billion in Q3, 2025. This represents an increase of 8.71% over the value; ₦35,818.35 billion recorded in the corresponding period of 2024 and an increase by 2.36% compared to the value recorded in the preceding quarter (₦38,037.52 billion),” the NBS said.

“In the quarter under review, exports accounted for 58.59% of total trade with a value of ₦22,813.57 billion, showing an increase of 11.08% over the value recorded in the corresponding quarter of 2024 (₦20,537.17 billion) and by 0.28% compared to the value recorded in Q2, 2025 (₦22,750.74 billion).”

The NBS said crude oil remained Nigeria’s major exported commodity in Q3 of 2025 with a value of N12.8 trillion, representing 56.14 percent of total exports.
The report said the value of non-crude oil exports stood at N10 trillion, accounting for 43.86 percent of total exports — with non-oil products contributing N2.99 trillion or 13.14 percent of total exports.

“Using the Standard International Trade Classification, the top-ranked group imports were “mineral fuels” with ₦5,154.78 billion representing 31.97% of total imports, this was followed by “machinery and transport equipment” with ₦4,250.48 billion or 26.36% of total imports and “Chemicals & related products” with ₦2,347.07 billion (14.56% of total imports),” the bureau said.