By Charles Ebi
Nigeria recorded a trade surplus of N6.691 trillion in the third quarter of 2025. This figure represents a 1.03% drop over the N7.46 trillion recorded in Q2 ’25.
The National Bureau of Statistics ,NBS, released its Q3 2025 foreign trade statistics yesterday, showing that Nigeria’s total merchandise trade stood at N38.937 trillion in Q3.
This represents an increase of 8.71% over the value of N35.818 trillion recorded in the corresponding period of 2024 and an increase by 2.36% compared to the value recorded in the preceding quarter ,N38.038 trillion.
In the quarter under review, exports accounted for 58.59% of total trade with a value of N22.814 trillion, showing an increase of 11.08% over the value recorded in the corresponding quarter of 2024 ,N20.537 trillion, and by 0.28% compared to the value recorded in Q2, 2025 ,N22.751 trillion.
Analysis shows that crude oil remained Nigeria’s major exported commodity in the third quarter of 2025 with a value of N12.807 trillion, representing 56.14% of total exports.
A further breakdown revealed that the value of non-crude oil exports stood at N10.007 trillion, accounting for 43.86% of total exports; of which non-oil products contributed N2.997 trillion or 13.14% of total exports.
The report showed that in the third quarter of 2025, total imports were valued at N16.123 trillion, accounting for 41.41% of total trade.
The value of total imports stood at N16.123 trillion in the third quarter of 2025, representing a 5.51% increase from the value recorded in the corresponding quarter of 2024 (N15.281 trillion) and a 5.47% increase compared to the value recorded in Q2, 2025 (N15.287 trillion).
Analysis of Nigeria’s import trade reveals that China continues to dominate in the third quarter of 2025, followed by the United States of America, India, the United Arab Emirates and Belgium.
The most traded commodities imported during the quarter, according to the report, were Petroleum oils and oils obtained from bituminous minerals, crude, gas oil, motor spirit ordinary, durum wheat and cane sugar meant for sugar refinery.
The value of agricultural goods imported in Q3 2025 stood at N1.103 trillion, representing a 25.03% increase compared to N882.24 billion recorded in Q3 2024 and a 6.87% decrease relative to N1.184 trillion recorded in Q2 2025.
In the same period, the import value of raw material goods was N2.017 trillion, representing a 27.70% increase from N1.58 trillion in Q3 2024, and a 17.32% increase compared to N1.719 trillion in the preceding quarter (Q2 2025).
The report further showed that in the third quarter of 2025, solid mineral imports were valued at N75.49 billion, representing an 18.82% decrease from N92.99 billion, and a 6.50% increase compared to N70.88 billion recorded in Q2 2025.
In the same period, the value of imported manufactured goods stood at N7.769 trillion, reflecting an 11.28% increase from N6.982 trillion, and a 1.45% decrease from N7.883 trillion recorded in Q2 2025.
The value of other oil products imported in Q3 2025 stood at N2.754 trillion, reflecting a 52.05% decrease from N5.745 trillion in Q3 2024 and a 1.14% decline from N2.786 trillion recorded in Q2 2025.
According to the NBS, Nigeria imported goods mainly from Asia, valued at N8.11 trillion, representing 50.30% of total imports.
This was followed by imports from America valued at N3.919 trillion or 24.31%, Europe with N3.438 trillion or 21.32%, while imports from Oceania stood at N61.11 billion or 0.38% in the third quarter of 2025.
Imports from African countries stood at a mere N595.00 billion or 3.69% of total imports, of which imports from the Economic Community of West African States ,ECOWAS, countries amounted to N179.26 billion or 30.13% of imports from African countries.
Further analysis on Nigeria’s trading partners reveals that imports from China were valued at N4.785 trillion, representing 29.68% of total imports.
This was followed by imports from The United States of America with N3.219 trillion, representing 19.96% of total imports, India with imports valued at N1.378 trillion or 8.55% of total imports, United Arab Emirates with goods valued at N790.66 billion, 4.90% of total imports and goods from Belgium valued at N690.22 billion or 4.28% of total imports.
Exports by region showed that Nigeria exported goods mainly to Europe, with goods valued at N8.706 trillion or 38.16% of total exports, followed by exports to Asia valued at N6.403 trillion, or 28.07% of total exports, while exports to America were valued at N2.580 trillion, representing 11.31% of total exports.
Also, exports to Africa stood at N4.903 trillion or 21.49% of the total exports, out of which goods exported to ECOWAS countries were valued at N3.136 trillion, or 63.96% of the total exports to Africa.
