Nigeria’s export earnings climbed to ₦22.8 trillion (about $28 billion) in the third quarter of 2025, driven largely by a sharp increase in raw material shipments and steady demand for oil and gas products, according to the latest Foreign Trade in Goods Statistics report by the National Bureau of Statistics (NBS). This figure represents an 11.08 per cent rise from the ₦20.54 trillion recorded in the same quarter last year and a 0.28 per cent increase compared to the second quarter of 2025, underscoring moderate growth in Nigeria’s external trade sector.
The report showed that crude oil and petroleum-related products continued to dominate the country’s export profile in the period under review. Crude oil alone was valued at ₦12.81 trillion, accounting for more than half of total exports, although this represented a slight year-on-year decline from previous oil export levels. Other key export commodities included natural gas, petroleum gases, kerosene-type jet fuel and urea.
A standout feature of the latest figures was the performance of raw material exports. These shipments nearly more than doubled, jumping a remarkable 136.38 per cent year-on-year to ₦1.04 trillion, reflecting growing international demand for industrial inputs sourced from Nigeria. Solid mineral exports also showed solid gains, rising to ₦100.81 billion over the quarter.
Despite the strong performance in these segments, agricultural exports declined to ₦786.62 billion, continuing a trend of underperformance in this sector, while manufactured goods exports recorded mixed results falling on a year-on-year basis but increasing compared to the previous quarter.
On the trade front, Nigeria’s total merchandise trade the combined value of exports and imports rose to ₦38.94 trillion, marking an 8.7 per cent increase from the corresponding period last year and a modest rise from the second quarter of 2025. Exports made up nearly 59 per cent of total trade, highlighting Nigeria’s continued reliance on outbound shipments for economic engagement abroad.
Imports into Nigeria also grew during the quarter, reaching ₦16.12 trillion. The increase was influenced by sustained demand for energy products, manufactured goods and food staples, with China, the United States, India, the UAE and Belgium among the leading suppliers of imported goods.
The trade data showed that while Nigeria maintained a positive trade balance, the trade surplus narrowed compared to earlier in the year because imports expanded more quickly than exports in some categories. Nonetheless, the stronger export receipts especially in raw materials and energy products underscore ongoing resilience in the country’s trade performance amid global economic uncertainties.
Top destinations for Nigerian exports in the quarter included India, Spain, France, the Netherlands and Italy, reflecting diverse global demand for the country’s key products.
Overall, these figures suggest that Nigeria’s trade sector continues to expand, driven by commodity exports and growing shipments of raw materials even as efforts to diversify into non-oil sectors progress slowly.
