In the first quarter of 2025, Nigeria’s total trade with foreign nations soared to N36 trillion, as outlined in a recent report by the National Bureau of Statistics (NBS).
The report reveals that exports reached N20.598 trillion, while imports totalled N15.426 trillion, resulting in a trade surplus of N5.172 trillion for the quarter.
Notably, crude oil sales commanded the export market at N12.955 trillion, with agricultural exports contributing N1.74 trillion, where cocoa beans topped the list. This demonstrates a 6.19% increase compared to the same quarter in 2024, although it reflects a slight decrease of 1.58% from the previous quarter.
Exports constituted 57.18% of total trade, marking a 7.42% rise compared to last year and a 2.92% increase from the last quarter of 2024.
