The export earnings in Nigeria weakened during the period. The drop in export value was largely linked to reduced crude oil shipments, which remain the backbone of the country’s export market. Nigeria closed the last quarter of 2025 with a trade surplus of ₦1.71 trillion.
Figures released by the National Bureau of Statistics in its latest foreign trade report show that Nigeria’s total merchandise trade in the fourth quarter reached ₦36.21 trillion. The figure reflects a slight dip when compared with the same period in 2024 and also represents a notable decline from the previous quarter of 2025.
Although exports still accounted for the larger portion of trade activity, the value of goods sold abroad fell during the quarter. Nigeria recorded export earnings of ₦18.96 trillion, making up just over half of the country’s total trade transactions for the period.
Crude oil continued to dominate Nigeria’s exports, bringing in ₦9.70 trillion and contributing more than half of the total export revenue. However, income from crude sales dropped sharply when compared with both the corresponding quarter in 2024 and the third quarter of 2025. The decline in oil shipments significantly affected the overall export performance.
Other export categories helped soften the impact of the drop in crude oil earnings. Non-crude exports generated ₦9.26 trillion during the quarter, while non-oil products accounted for ₦3.15 trillion of the country’s export value.
Nigeria’s major export markets during the period included the Netherlands, India, Spain, France and Canada. Among the products shipped abroad were crude oil, natural gas, jet fuel, petroleum gases and urea.
Imports, on the other hand, rose slightly within the same period. Nigeria imported goods worth ₦17.25 trillion in the fourth quarter, showing a modest increase when compared with both the previous quarter and the same timeframe in 2024.
China remained the country’s largest source of imports, maintaining its dominant position as Nigeria’s key trade partner on the import side. Other countries supplying goods to Nigeria included the United States, the Netherlands, India and Brazil.
Some of the most imported products during the quarter were Premium Motor Spirit (petrol), durum wheat, crude petroleum oils, raw sugar meant for refining and used diesel-powered vehicles.
Despite the weaker export performance, Nigeria managed to maintain a positive trade balance throughout 2025. According to the statistics agency, the smaller surplus recorded in the final quarter was mainly the result of declining earnings from crude oil exports.
