The National Bureau of Statistics (NBS) on Monday revealed that Nigeria’s total exports in the second quarter (Q2) of 2026 were valued at ₦27,020.88 billion.
In data published by the Bureau, the value of exports in the second quarter of 2026 reflected an increase of 18.77% compared to the 22,750.74 billion pounds recorded in the corresponding quarter of 2025, and an increase of 27.64% compared to the 21,169.27 billion pounds recorded in the first quarter of 2026.
NBS explained that “in the second quarter of 2026, Nigeria’s top five export trading partners were India, Spain, the Netherlands, the United States of America and Togo. The most exported commodities were crude oil, jet kerosene, natural gas, urea, including in aqueous solution, and other petroleum gases in gaseous form.
“Exports of agricultural products in the analyzed period amounted to ₦802.99 billion, representing a decrease of 36.09% from ₦1,256.36 billion in the second quarter of 2025 and a decrease of 31.51% from ₦1,172.37 billion in the first quarter of 2026.
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“In the same period, the value of raw materials exports stood at ₦2,305.40 billion, representing an increase of 181.24% from ₦819.72 billion in the second quarter of 2025 and an increase of 50.31% from ₦1,533.75 billion in the first quarter of 2026.
“Analysis shows that solid mineral exports in Q2 2026 were valued at £146.91 billion, representing an increase of 90.03% from £77.31 billion in Q2 2025 and also an increase of 42.91% from £102.80 billion in Q1 2026.”
The data revealed that “the value of exports of manufactured goods in the second quarter of 2026 amounted to ₦393.03 billion, reflecting a decrease of 51.10% from ₦803.81 billion in the second quarter of 2025 and an increase of 29.87% from ₦302.64 billion in the first quarter of 2026.
“Crude oil exports in Q2 2026 were valued at ₦12,914.33 billion, the value increased by 7.93% from ₦11,965.98 billion in Q2 2025 and also increased by 15.28% from ₦11,202.35 billion in Q1 2026.
“Exports of other petroleum products in the second quarter of 2026 amounted to ₦10,376.88 billion, showing an increase of 34.08% from ₦7,739.22 billion in the second quarter of 2025 and an increase of 53.05% from ₦6,780.18 billion in the first quarter of 2026.”
The data further revealed that the value of total imports stood at ₦14,424.01 billion in the second quarter of 2026, representing a decrease of 12.55% over the value recorded in the corresponding quarter of 2025 (₦16,493.67 billion) and an increase of 5.91% compared to the value recorded in the first quarter of 2026 (₦ 13,619.33 billion).
“Analysis of Nigeria’s import trade reveals that China remained the largest source of imports in the second quarter of 2026, followed by the United States of America, India, the Netherlands and Germany.
“The most imported products during the quarter were Motor Spirit Ordinary, petroleum oils and oils obtained from bituminous minerals (crude), durum wheat, used vehicles with diesel or semi-diesel engines and Motorcycles and mopeds equipped with auxiliary engine, gasoline, displacement >50
NBS said that “the value of imported agricultural products in the second quarter of 2026 amounted to ₦1,203.76 billion, representing an increase of 1.63% compared to the ₦1,184.42 billion recorded in the second quarter of 2025, and an increase of 45.43% compared to the ₦827.72 billion recorded in the first quarter of 2026.
“In the same period, the value of raw material imports was ₦1,790.00 billion, representing an increase of 4.11% from ₦1,719.35 billion in Q2 2025, and an increase of 13.12% compared to ₦1,582.36 billion in the previous quarter (Q1 2026).
“In Q2 2026, imports of solid minerals were valued at ₦56.99 billion, representing a decrease of 19.60% from ₦70.88 billion in Q2 2025 and a decrease of 18.30% compared to ₦69.75 billion recorded in Q1 2026.”
The data noted that “in the same period, the value of imported manufactured goods stood at ₦9,511.36 billion, reflecting an increase of 20.65% from ₦7,883.33 billion in the second quarter of 2025, and an increase of 12.10% from ₦8,484.37 billion recorded in the first quarter of 2025. 2026.
“The value of other imported petroleum products in the second quarter of 2026 amounted to ₦1,075.11 billion, reflecting a decrease of 73.08% from ₦3,993.07 billion in the second quarter of 2025 and an increase of 43.71% from ₦748.10 billion recorded in the first quarter of 2026”.
NBS further explained that Nigeria’s total merchandise trade amounted to ₦41,444.89 billion in the second quarter of 2026. This represents an increase of 5.61% from the ₦39,244.42 billion recorded in the corresponding quarter of 2025 and an increase of 19.13% from the ₦34,788.59 billion recorded in the previous quarter.
“In the quarter under review, exports accounted for 65.20% of the total trade valued at ₦27,020.88 billion. This represents an increase of 18.77% over the ₦22,750.74 billion recorded in the corresponding quarter of 2025 and an increase of 27.64% over the value of ₦21,169.27 billion. recorded in the first quarter of 2026,” the data indicates. declared.
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