Nigeria’s merchandise trade balance for Q4 2025 remained positive at N1,712.48 trillion, even as total trade activity declined, data by the National Bureau of Statistics (NBS) show.
The NBS, in its report titled Foreign trade statistics report Q4 2025, released on Tuesday, said the country’s total merchandise trade stood at N36.21 trillion, down 1.07 per cent from N36.60 trillion in Q4 2024 and 8.94 per cent from the N39.77 trillion recorded in the previous quarter, reflecting weaker export activity, particularly in crude oil shipments.
The statistics agency said exports accounted for 52.36 per cent of total trade during the quarter, valued at N18.96 trillion, while imports stood at N17.25 trillion, a trade surplus of N1.71 trillion.
However, it said export earnings fell relative to previous periods, declining 5.25 per cent from N20.01 trillion in Q4 2024 and 16.88 per cent compared with N22.81 trillion in Q3 2025.
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The NBS data analysis shows that crude oil remained Nigeria’s major exported commodity in the fourth quarter of 2025 with a value of N9,70 trillion, representing 51.17 per cent of total exports.
A further breakdown reveals that the value of non-crude oil exports stood at N9.26 trillion, accounting for 48.83 per cent of total exports; of which non-oil products contributed N3.14 trillion or 16.59 per cent of total exports.
Smaller contributions came from manufactured goods (N423.43 billion), solid minerals (N116.84 billion), and energy goods (N89.72 billion), respectively.
On the other hand, the report said imports accounted for 47.64 per cent of total trade in the fourth quarter of 2025, with a value of N17.25 trillion, representing a 3.98 per cent increase from N16.59 trillion in Q4 2024 and a 1.73 per cent increase from N16.957 trillion in Q3 2025.
According to the report, manufactured goods accounted for the largest share, valued at N8.80 trillion, or 51.03 per cent of total imports. Other petroleum products followed with N4.02 trillion, while raw materials and agricultural goods stood at N2.35 trillion and N1.44 trillion, respectively.
Imports of crude oil totalled N499.75 billion, solid minerals N140.99 billion, and energy goods N80 million.
