Nigeria’s exports of agricultural goods surged by about 65 percent in the first quarter of 2025, reaching ₦1.7 trillion compared to ₦1.035 trillion in the same period last year, according to the National Bureau of Statistics (NBS) Foreign Trade report. This growth contributed to a total export value of approximately ₦20.6 trillion for Q1 2025, marking a 7.42 percent increase from ₦19.176 trillion in Q1 2024 and a 2.92 percent rise from ₦20.014 trillion in Q4 2024.
The top five export destinations for Nigeria during this period were India, the Netherlands, the United States, France, and Spain. Key export commodities included crude oil, liquefied natural gas, other petroleum gases, urea, and standard quality cocoa beans.
Raw material exports also saw a significant increase, rising by 196.12 percent year-on-year to ₦1.044 trillion, indicating growing foreign demand. However, solid mineral exports declined by 7.17 percent to ₦58.87 billion. Manufactured goods exports increased by 9.58 percent to ₦294.43 billion but fell 40.43 percent compared to the previous quarter.
Crude oil exports dropped by 16.35 percent year-on-year to ₦12.955 trillion due to production challenges but were partially offset by a 134.24 percent rise in other oil product exports to ₦4.475 trillion.
Regionally, Europe accounted for 41.96 percent of Nigeria’s exports, followed by Asia at 32.79 percent, America at 16.16 percent, and Africa at 9 percent. Within Africa, ECOWAS countries received 57.58 percent of the continent’s exports, with South Africa, Ivory Coast, Senegal, Togo, and Ghana being the primary recipients.
The report highlights Nigeria’s growing trade surplus and diversification efforts, particularly in agricultural and non-crude exports, reinforcing the country’s expanding role in global trade.
