Nigeria Q2 2026 trade surplus N12.6tn

Nigeria recorded a substantial merchandise trade surplus of N12.60 trillion in the second quarter of 2026, as exports significantly outpaced imports. Total merchandise trade for the period reached N41.44 trillion, according to data released by the National Bureau of Statistics (NBS). The NBS Foreign Trade in Goods Statistics for Q2 2026 revealed that exports were valued at N27.02 trillion, while imports stood at N14.42 trillion. This resulted in the considerable trade surplus, which represented a 66.8 percent increase from the N7.55 trillion surplus recorded in the first quarter of 2026. The widening gap between exports and imports is seen as economically significant, potentially strengthening foreign exchange liquidity and supporting the stability of the national currency. Crude oil remained the primary driver of Nigeria's export earnings, contributing N12.91 trillion, or 47.79 percent of total exports. Other petroleum oil products added another N10.38 trillion to export revenues. Together, petroleum products accounted for over 86 percent of the country's export earnings. Non-crude exports collectively amounted to N14.11 trillion, representing 52.21 percent of total exports.