Nigeria recorded a total of N34.78tr worth of foreign trade in the first quarter of 2026, a report by the National Bureau of Statistics (NBS) has shown.
The report which was released on Monday stated that exports accounted for 60.85% of total trade with a value of N21.16tr, showing an increase of 2.77% over the value recorded in the corresponding quarter of 2025 (N20.59tr) and an increase of 11.63% compared to the value recorded in Q4 2025 (N18.96tr).
On the other hand, imports accounted for 39.15% of total trade in the first quarter of 2026, with a value of N13.61tr representing a 18.17% decrease compared to N16.64tr recorded in Q1 2025, and 21.05% decrease from N17.25tr recorded in Q4 2025.
Analysis showed that crude oil remained Nigeria’s major exported commodity in the first quarter of 2026 with a value of N11.2tr representing 52.92% of total exports.
A further breakdown reveals that the value of non-crude oil exports stood at N9.96tr, accounting for 47.08% of total exports; of which non-oil products contributed N3.18tr or 15.05% of total exports.
