Nigeria records trade surplus of N12.59 trillion in Q2 2026 — NBS

…Total merchandise trade rises to N41.44 trillion as exports widen gap with imports

Mujeeb Akindoyin

Nigeria recorded a merchandise trade surplus of 12.59 trillion naira in the second quarter of 2026, according to the latest foreign trade statistics released by the National Bureau of Statistics.

The figure indicates that the value of Nigeria’s exports exceeded imports by 12.59 trillion naira during the three-month period, signaling 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 N41.44 trillion in the second quarter of 2026.

The figure represents an increase of 5.61% over the 39.24 trillion naira recorded in the corresponding quarter of 2025.

The latest trade performance comes against the backdrop of the Federal Government’s ongoing efforts to strengthen exports, reduce import dependency and improve Nigeria’s currency position.

A trade surplus occurs when a country’s exports exceed its imports. It can help strengthen external reserves and reduce exchange rate pressure, although the broader economic impact depends on the composition and sustainability of exports.

The NBS report provides new data on the performance of Nigeria’s international goods trade as the country continues to struggle with inflation, exchange rate pressures and the high cost of imported goods.

The bureau said the total value of goods traded during the quarter increased compared to the corresponding period last year, indicating increased activity in the country’s foreign trade sector.

The 12.59 trillion naira 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 positive trade balance will largely depend on its ability to increase non-oil exports, expand domestic production and improve the competitiveness of locally produced goods in international markets.

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