Nigeria’s National Bureau of Statistics (NBS) says Nigeria’s trade with other African countries grew by N610bn in the first half of 2025.
The latest numbers from the NBS showed that total trade figures rose to N4.82tn compared with N4.21tn recorded in the same period of 2024.
According to the figures, the quarterly trend revealed contrasting movements. In the first quarter of 2025, trade fell slightly to N1.86tn from N2.24tn in Q1 2024.
However, the second quarter delivered a sharp rebound, with trade climbing to N2.97tn against N1.98tn in Q2 2024.
This near N1tn jump in the second quarter was the decisive factor behind the overall increase recorded in the half-year period.
Exports accounted for most of the growth. Nigeria exported goods worth N4.82tn in the first six months of 2025, compared with N4.21tn in the same period of 2024.
The expansion was particularly evident in Q2 2025 when exports rose to N2.97tn, up from N1.97tn in the second quarter of 2024.
Imports also grew but at a slower pace, reaching N1.82tn in the first half of 2025 from N1.13tn a year earlier.
According to the report by Punch newspaper on Monday, the figures showed that Nigeria remained a net exporter to Africa. The country recorded a trade surplus of N2.99tn in H1 2025, only slightly lower than the N3.08tn surplus recorded in H1 2024.
The surplus narrowed in Q1 2025 when Nigeria’s import bill surged to N1.00tn, more than double the N401.8bn recorded in Q1 2024, while exports dropped slightly to N1.85tn from N2.24tn in the same quarter of 2024.
This reduced the surplus to N852.8bn compared with N1.83tn a year earlier. In Q2 2025, the trade balance widened again to N2.15tn as exports accelerated more strongly than imports.
GIK/APA