Nigeria’s exports of raw materials rose sharply in the first half of 2026, reaching N3.84 trillion, according to data from the National Bureau of Statistics.
The figure represents a 106 percent increase compared with the N1.86 trillion recorded during the same period in 2025. The latest data was obtained from an analysis of the NBS foreign trade statistics for the first and second quarters of 2026. The increase points to stronger earnings from raw and largely unprocessed goods, as international demand for agricultural commodities, minerals and other primary products remained strong.
The rise in raw material exports also came as Nigeria recorded broader growth in merchandise trade during the period. Nigeria’s total exports stood at N27.02 trillion in the second quarter of 2026, reflecting the growing contribution of the country’s export sector to overall trade. Agricultural products accounted for a significant share of Nigeria’s raw material exports during the first half of the year.
The country exported agricultural goods worth N1.97 trillion between January and June 2026. This represented an increase from the N1.17 trillion recorded in the first quarter and N802.99 billion recorded in the second quarter. Several agricultural commodities contributed to the value of exports during the period.
In the second quarter, cashew nuts in shell were among the leading agricultural exports, with a value of N268.61 billion. Standard quality cocoa beans followed at N154.31 billion, while sesame seeds were valued at N96.03 billion. Superior quality cocoa beans generated N58.82 billion, while soya beans accounted for N50.22 billion during the quarter.
The first quarter also recorded strong exports of agricultural products. Cocoa beans were the leading agricultural export during the period, with a value of N596.89 billion. Sesame seeds followed with N153.77 billion, while soya beans excluding seeds were valued at N129.27 billion. Cashew nuts contributed N119.76 billion, while flours and meals made from soya beans were valued at N53.19 billion.
The strong performance of agricultural exports comes against the backdrop of weaker agricultural imports during the same period. Nigeria’s agricultural imports fell by 8.5 percent year on year to N2.03 trillion in the first half of 2026. Agricultural imports stood at N827.72 billion in the first quarter before rising to N1.20 trillion in the second quarter.
The NBS data showed that agricultural products accounted for 6.08 percent of Nigeria’s total imports in the first quarter of 2026. This was lower than the 6.71 percent recorded in the corresponding quarter of 2025. However, the share increased in the second quarter, reaching 8.35 percent compared with 7.75 percent recorded in the same quarter of 2025.
The export figures highlight the growing importance of agricultural commodities and other raw materials to Nigeria’s trade performance. However, the continued export of largely unprocessed commodities also raises questions about the country’s ability to capture greater value from its natural resources. Processing more agricultural and mineral products locally could allow Nigerian businesses to earn more from international markets while creating jobs and supporting domestic industries.
For now, the sharp increase in raw material exports provides a boost to Nigeria’s trade figures and shows stronger demand for some of the country’s primary commodities.
