Business News

Oil Exports Drive Nigeria-UK Trade to £7.6b

Nigeria’s crude oil exports played a significant role in raising total trade between Nigeria and the United Kingdom to £7.6bn in 2025, according to the new trade and investment figures released by the UK Department for Business and Trade.

A fact sheet seen in Abuja on Wednesday showed that crude was still Nigeria’s biggest export to the UK.

The UK bought £719.2m worth of crude from Nigeria, making up almost half of all goods imported from the country.

The UK also imported £514.3m worth of refined oil products and £167.8m worth of gas from Nigeria. Other Nigerian exports into the UK market included coffee, tea, and cocoa valued at £17.9m, alongside processed fertilisers worth £17.2m.

The report revealed that total trade in goods and services between both countries rose by 10.8 per cent or £737m in current prices compared with the four quarters to the end of Q4 2024.

UK imports from Nigeria amounted to £2.1bn during the period, representing an increase of 11.3 per cent or £216m in current prices. Goods accounted for £1.5bn or 71.0 per cent of imports, while services contributed £614m or 29.0 per cent.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top