Nigeria emerged as the leading intra-African trading nation in West Africa in 2024, recording approximately $18.4 billion in trade with other African countries, a sharp rise from $8.1 billion in 2023.
This is according to the newly released African Trade Report 2025, published by the African Export-Import Bank (Afreximbank).
This more than two-fold increase in regional trade was driven largely by Nigeria’s crude oil exports and the growing momentum around refined petroleum products, following the operational launch of the Dangote Refinery, Africa’s largest located in Lagos.
The reported stated, “In West Africa, Nigeria emerged as the region’s largest intra-African trading country, as trade with the rest of Africa expanded to reach approximately $18.4 billion in 2024, up from just $8.1 billion in 2023. Crude oil remained Nigeria’s primary export to African markets, but there was growing momentum toward refined product exports following the operational launch of the Dangote Refinery.
“The refinery, Africa’s largest with a processing capacity of 650,000 barrels per day, began supplying petroleum products directly to Cameroon and other neighbouring markets. This development is expected to reduce dependency on intermediaries and foster regional energy integration.”
