Business News
NBS Report: Nigeria logs ₦22.8tn in exports, ₦16.1tn in imports in Q3 2025
Nigeria posted a trade surplus of ₦6.69 trillion in the third quarter of 2025, according to new data released by the National Bureau of Statistics (NBS).
Although positive, the surplus marks a 10.36% decline from the ₦7.4 trillion recorded in Q2 2025, reflecting weaker margins between exports and imports within the period.
The latest Foreign Trade in Goods report shows that Nigeria’s total exports in Q3 stood at ₦22.81 trillion, while imports amounted to ₦16.12 trillion, bringing total trade to ₦38.93 trillion.
Compared to the same quarter in 2024, total trade increased by 8.71%, and by 2.36% when placed side-by-side with Q2 2025.
NBS data indicates that crude oil remained the backbone of Nigeria’s export earnings, contributing ₦12.8 trillion, which amounts to 56.14% of total exports. Non-crude exports were valued at ₦10 trillion, while non-oil products accounted for ₦2.99 trillion, or 13.14% of the country’s total export value.
On the import side, “mineral fuels” topped Nigeria’s import bill with ₦5.15 trillion (31.97%), followed by machinery and transport equipment at ₦4.25 trillion (26.36%), and chemicals & related products with ₦2.34 trillion (14.56%).
India maintained its position as Nigeria’s top export destination in Q3 2025, purchasing goods valued at ₦2.26 trillion (9.90%). Spain, France, the Netherlands and Italy followed closely, bringing the total share of Nigeria’s top five export partners to 38.34%.
Meanwhile, China retained its dominance in Nigeria’s import market, accounting for ₦4.78 trillion, or 29.68% of total imports. The United States came next with ₦3.21 trillion (19.96%), followed by India, the United Arab Emirates and Belgium.
The Q3 trade numbers highlight both Nigeria’s heavy dependence on crude oil exports and its continued reliance on foreign imports for machinery, fuel products and industrial chemicals, factors that continue to shape the country’s trade balance despite global market fluctuations.
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