How Nigeria’s exports rose to ₦22.8trn in Q3 2025

Nigeria earned ₦22.8 trillion from exports in the third quarter of 2025 (Q3’25), buoyed by a sharp rebound in raw material shipments despite declines in agricultural and manufactured goods.

This is according to the latest Foreign Trade in Goods Statistics released by the National Bureau of Statistics (NBS).

The figure represents an 11.08% increase from the ₦20.54 trillion recorded in Q3 2024 and a slight 0.28% rise from ₦22.75 trillion reported in Q2 2025. India, Spain, France, the Netherlands and Italy remained Nigeria’s top export destinations, collectively accounting for the largest share of outbound trade.

Crude oil, natural gas, petroleum gases, kerosene-type jet fuel and urea were the major export commodities in the quarter. Raw material exports recorded the strongest expansion, rising by 136.38% year-on-year to ₦1.04 trillion.

“Total exports in Q3 2025 were valued at ₦22,813.57 billion, reflecting an 11.08% rise compared to the corresponding quarter of 2024 and a 0.28% increase from Q2 2025,” the NBS noted.

Crude oil exports stood at ₦12.81 trillion—down 4.47% from Q3 2024 but up 7.03% compared to Q2 2025. Agricultural exports declined to ₦786.62 billion, while manufactured goods decreased year-on-year but improved quarter-on-quarter. Solid mineral exports also grew, reaching ₦100.81 billion.

Other oil products continued to support export earnings despite underperforming compared to the previous quarter.

On the import side, Nigeria’s import bill rose to ₦16.12 trillion in Q3’25, driven by increased demand from China, the United States and India. Total imports grew by 5.51% year-on-year and 5.47% quarter-on-quarter. China remained Nigeria’s leading import partner, followed by the US, India, the UAE and Belgium.

Key imported items included petroleum oils, gas oil, motor spirit, durum wheat and cane sugar, reflecting persistent energy and food demand pressures.

“The value of total imports stood at ₦16,122.98 billion in Q3 2025,” the report stated, “representing a 5.51% increase year-on-year and a 5.47% rise from Q2 2025.”

Agricultural imports rose sharply compared to Q3 2024 but dipped against Q2 2025. Raw material and manufactured goods imports continued to expand, indicating stronger industrial and consumer activity.

Nigeria’s total merchandise trade climbed to ₦38.94 trillion in Q3 2025, up 8.71% from the ₦35.82 trillion recorded in Q3 2024 and 2.36% higher than the ₦38.04 trillion posted in Q2 2025.