NIGERIA POSTS N12.6TN TRADE SURPLUS AS EXPORTS OUTPACE IMPORTS

Nigeria recorded a trade surplus of N12.596 trillion in the second quarter of 2026, reflecting a significant gap between the value of goods exported from the country and those imported during the period. The latest figure indicates that Nigeria earned considerably more from its merchandise exports than it spent on imports, providing a positive balance for the country’s trade position in the quarter under review.

The strong performance was driven largely by the value of Nigeria’s exports, which remained substantially higher than its import bill. The development comes as the country continues to seek ways of strengthening non-oil exports and reducing its dependence on imported goods, while reforms in the foreign exchange and production environment continue to influence the direction of international trade.

The latest trade figures also highlight the importance of Nigeria’s export sector to the wider economy. A sustained improvement in export earnings can provide additional foreign exchange inflows, support external reserves and ease pressure on the naira, although the broader impact depends on the composition of exports and the extent to which the gains translate into stronger domestic production and employment.

Analysts and policymakers are expected to pay close attention to the figures as Nigeria works to improve its trade balance and strengthen domestic productive capacity. Expanding agricultural, manufactured and other non-oil exports remains important for creating a more diversified trade base, particularly as fluctuations in global commodity prices can affect earnings from traditional exports.

The N12.596 trillion surplus therefore represents a positive development for Nigeria’s external trade position, but maintaining the momentum will depend on sustaining export growth while addressing structural challenges affecting domestic production. Measures aimed at improving infrastructure, reducing production costs, supporting exporters and increasing the competitiveness of Nigerian products could further strengthen the country's position in international trade.