Nigeria’s total merchandise trade surged to ₦36.02 trillion in the first quarter (Q1) of 2025, reflecting a 6.19% increase compared to ₦33.93 trillion recorded in Q1 2024, according to the latest data released by the National Bureau of Statistics (NBS).
The growth was driven largely by increased export activity, with exports totaling ₦20.60 trillion in Q1 2025. This figure marks a 7.42% rise from the ₦19.18 trillion recorded in Q1 2024, and a 2.92% uptick from the ₦20.01 trillion posted in Q4 2024.
On the import side, Nigeria brought in goods worth ₦15.43 trillion in Q1 2025 — a 4.59% increase from the ₦14.75 trillion reported in the same period last year. However, the figure represents a 7.02% decline from Q4 2024, which saw imports reach ₦16.59 trillion.
The positive trade balance — with exports exceeding imports by over ₦5 trillion — underscores a strong start to the year for Nigeria’s external trade sector.
Analysts say continued export growth, particularly in crude oil and non-oil sectors, could help ease pressure on the naira and improve foreign reserves.
