Nigeria recorded a N12.60 trillion merchandise trade surplus in the second quarter of 2026, more than double the surplus recorded in the corresponding period of 2025, as strong petroleum exports boosted the country’s external trade position despite sharp declines in agricultural and manufactured exports.
The latest Foreign Trade in Goods Statistics released by the National Bureau of Statistics (NBS) showed that the country’s trade surplus increased by 101.32 per cent year-on-year, while total merchandise trade rose to N41.44 trillion, representing a 5.61 per cent increase from N39.24 trillion recorded in the second quarter of 2025.
On a quarter-on-quarter basis, total trade increased by 19.13 per cent from N34.79 trillion recorded in the first quarter of 2026, underscoring the significant expansion in Nigeria’s external trade activities during the period.
Exports accounted for 65.20 per cent of total merchandise trade, rising to N27.02 trillion in the second quarter. The figure represented an 18.77 per cent increase from N22.75 trillion recorded in the corresponding period of 2025 and a 27.64 per cent rise from N21.17 trillion recorded in the preceding quarter.
