…Total merchandise trade rises to N41.44tn as exports widen gap over imports
Mujeeb Akindoyin
Nigeria recorded a N12.59tn merchandise trade surplus in the second quarter of 2026, according to the latest foreign trade statistics released by the National Bureau of Statistics.
The figure means the value of Nigeria’s exports exceeded imports by N12.59tn during the three-month period, signalling a substantial positive balance in the country’s merchandise trade.
The NBS, in its foreign trade statistics report released on Monday, said the country’s total merchandise trade stood at N41.44tn in Q2 2026.
The figure represents a 5.61 per cent increase compared with the N39.24tn recorded in the corresponding quarter of 2025.
The latest trade performance comes amid continuing efforts by the Federal Government to strengthen exports, reduce dependence on imports and improve Nigeria’s foreign exchange position.
A trade surplus occurs when a country’s exports exceed its imports. It can help strengthen external reserves and reduce pressure on foreign exchange, although the broader economic impact depends on the composition and sustainability of the exports.
The NBS report provides fresh data on the performance of Nigeria’s international merchandise trade as the country continues to grapple with inflation, exchange-rate pressures and the high cost of imported goods.
The bureau said the total value of merchandise traded during the quarter rose from the corresponding period of the previous year, indicating increased activity in the country’s external trade sector.
The N12.59tn surplus, however, also raises questions about the composition of Nigeria’s exports and the extent to which the country is diversifying beyond crude oil and other traditional commodities.
Nigeria’s ability to sustain the positive trade balance will largely depend on its capacity to increase non-oil exports, expand domestic production and improve the competitiveness of locally produced goods in international markets.
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