Nigeria’s total merchandise trade stood at ₦38,037.52 trillion in the second quarter (Q2) of 2025, reflecting a 20.05% increase compared to the ₦31,683.75 trillion recorded in the same period of 2024 and a 5.59% rise from the ₦36,024.66 trillion posted in the previous quarter.
The update was confirmed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement released on his verified X handle.
According to the report, exports dominated trade in the quarter, accounting for 59.81% of the total with a value of ₦22,750.74 trillion. This figure represented a 28.43% growth compared to Q2 2024 (₦17,714.41 trillion) and a 10.45% increase over Q1 2025 (₦20,598.48 trillion).
Crude oil remained the largest contributor, valued at ₦11,965.98 trillion, or 52.60% of total exports. Non-crude oil exports amounted to ₦10,784.76 trillion (47.40%), with non-oil products contributing ₦3,045.55 trillion, equivalent to 13.39% of total exports.
On the import side, Nigeria recorded ₦15,286.78 trillion in Q2 2025, representing 40.19% of total trade. This marked a 9.43% increase compared to ₦13,969.34 trillion in Q2 2024 but a slight 0.90% decline from ₦15,426.17 trillion in Q1 2025.
Overall, the merchandise trade balance remained positive at ₦7,463.96 trillion, indicating a 44.31% improvement over Q1 2025, underscoring Nigeria’s stronger export performance and reduced trade deficit.
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