Nigeria recorded a trade surplus of N6.69tn in the third quarter of 2025, at a 27.29 per cent growth rate, continuing a trend of trade surpluses.
Stakeholders attribute the consistent positive performance to the economic reforms in the foreign exchange market. Latest data from the National Bureau of Statistics on foreign trade in goods showed that total exports in Q3 2025 stood at N22.81tn, while imports amounted to N16.12tn, resulting in a surplus of N6.69tn.
The figure represents a 27.29 per cent year-on-year rise, compared to the N5.26tn surplus recorded in Q3 2024. However, it reflects a 10.36 per cent decline from the N7.46tn surplus posted in Q2 2025.
Economists and private-sector groups explained to The PUNCH that the Q3 2025 foreign trade figures showed that reforms in the FX market, trade liberalisation, and currency adjustments have boosted export competitiveness and encouraged backward integration.
Stakeholders, including the Director of the Centre for the Promotion of Private Enterprise, Muda Yusuf, stated that the reforms had significantly strengthened Nigeria’s export position.
Yusuf said, “The current economic reforms have resulted in a situation where export performance has been increasing because of the reform in the foreign exchange market, the liberalisation of the market, the ease with which export proceeds can come in, and the fact that the depreciation in the currency has made our export sector more attractive and more competitive.”
