Nigeria’s trade with African nations rose by ₦610 billion in the first half of 2025, reaching ₦4.82 trillion.
The NBS credited higher exports for driving growth despite naira depreciation and U.S. trade tensions.
Nigeria’s trade with other African countries increased by ₦610 billion in the first half of 2025, according to new data from the National Bureau of Statistics (NBS). The total value of trade between Nigeria and African nations reached ₦4.82 trillion, up from ₦4.21 trillion recorded in the same period of 2024.
The figures reflect the continued resilience of regional commerce despite the impact of the naira’s depreciation.
A quarterly breakdown showed mixed trends. Trade volumes fell slightly to ₦1.86 trillion in the first quarter of 2025, compared with ₦2.24 trillion in the same quarter of 2024. However, the second quarter saw a strong recovery, rising to ₦2.97 trillion from ₦1.98 trillion a year earlier, a near ₦1 trillion jump that drove the overall increase for the half year.
Exports were the key driver of growth. Nigeria exported goods worth ₦4.82 trillion in the first six months of 2025, compared to ₦4.21 trillion during the same period in 2024. Imports also grew, though at a slower rate, from ₦1.13 trillion to ₦1.82 trillion.
Despite the rise in imports, Nigeria maintained its position as a net exporter to the continent, posting a trade surplus of ₦2.99 trillion in the first half of 2025. This was only slightly lower than the ₦3.08 trillion surplus recorded in the previous year.
In the first quarter of 2025, however, the surplus narrowed sharply to ₦852.8 billion as imports surged to ₦1 trillion and exports slipped to ₦1.85 trillion. The trade balance improved in the second quarter to ₦2.15 trillion as exports rebounded.
While the naira value of trade appears strong, dollar figures tell a different story. Total trade with Africa stood at $3.13 billion in the first half of 2025, compared to $2.89 billion in the same period of 2024, still far below the $4.51 billion recorded in 2019 before the pandemic.
Exports were valued at $1.95 billion, while imports totaled $1.19 billion, both significantly lower than pre-2019 levels. The sharp currency depreciation, from an average exchange rate of ₦306.73 to the dollar in 2019 to ₦1,538.50 in 2025, has inflated naira values even as real trade volumes have weakened.
Nigeria’s export profile remains dominated by crude oil and related products, which continue to drive its trade surplus with African partners.
The report comes as Nigeria faces rising trade tensions with the United States. Recent data from the U.S. Census Bureau showed a 41 per cent decline in American imports of Nigerian goods, falling from $639 million in June 2025 to $379 million in July. U.S. exports to Nigeria also dropped from $919 million to $584 million over the same period.
This downturn followed an executive order signed by former U.S. President Donald Trump in July, increasing tariffs on Nigerian exports from 14 to 15 per cent under his “reciprocal” tariff regime. Although crude oil is partly exempted, the new duties have affected demand for non-oil goods.
Nigeria’s Minister of Industry, Trade and Investment, Jumoke Oduwole, said the government would not retaliate but would focus on diversifying exports and deepening regional integration under the African Continental Free Trade Area (AfCFTA).
She stated, “Nigeria remains responsive, not reactive. We are committed to supporting local industries and expanding market access for Nigerian businesses.”
Oduwole emphasized that while the United States remains an important partner, Nigeria’s long-term trade future lies in building stronger economic ties within Africa and boosting non-oil exports.
