Nigeria recorded total merchandise exports valued at ₦27,020.88 billion (₦27.02 trillion) in the second quarter of 2026, representing a significant 27.64% surge from the ₦21.17 trillion posted in the preceding quarter.
The figures were officially published on Monday, September 7, 2026, in the National Bureau of Statistics (NBS) Foreign Trade in Goods Statistics Report for Q2 2026, released at the Bureau’s headquarters in Abuja.
The statistical release highlights a robust external trade sector that propelled the country’s quarterly trade surplus to ₦12.60 trillion, more than double the surplus recorded in the same period of 2025.
According to official data, overall merchandise trade reached ₦41,444.89 billion (₦41.44 trillion) between April and June 2026, with export performance driving the overwhelming majority of international trade activities.
Exports accounted for 65.20% of total trade at ₦27.02 trillion, up 18.77% year-on-year from Q2 2025. Merchandise Trade Balance, stood at a positive ₦12.596 trillion surplus, reflecting a 101.32% jump compared to the corresponding period last year.
Total Imports, valued at ₦14,424.01 billion (₦14.42 trillion), representing 34.80% of total trade. Imports dropped 12.55% compared to Q2 2025.
Crude oil retained its position as Nigeria’s primary export driver, generating ₦12.91 trillion (47.79% of all exports). Non-crude oil exports contributed ₦14.11 trillion, with non-oil commodities providing ₦3.73 trillion. Raw material exports witnessed a massive growth spurt, climbing 181.24% year-on-year to ₦2.31 trillion, backed largely by urea exports to the United States.
Speaking on the quarterly metrics, NBS Senior Statistician Okeoghene Akubuike emphasized that export growth across major energy products and solid minerals cushioned the overall balance.
Asia ranked as Nigeria’s largest regional export destination at ₦8.72 trillion, followed closely by Europe at ₦8.07 trillion. On a country basis, India emerged as Nigeria’s top export destination (₦3.29 trillion), followed by Spain, the Netherlands, the United States, and Togo. Conversely, China maintained its position as Nigeria’s primary source of imports, supplying ₦5.92 trillion worth of goods.
The statistics bureau noted that maritime processing remained heavily centralized, with the Apapa Port handling over 70% of Nigeria’s total outward cargo during the quarter.
