LAGOS — Nigeria’s external trade reached new heights in 2025, driven by a surge in export earnings and a disciplined approach to imports.
According to the full-year Foreign Trade in Goods report from the National Bureau of Statistics (NBS), the nation recorded a massive trade surplus of ₦17.78 trillion, as total foreign trade climbed to ₦152.47 trillion.
While the surplus signals a robust recovery for the Nigerian economy, the data also highlights a growing dependency on Asian manufacturing.
Despite the overall positive balance, Nigeria recorded its largest-ever trade deficit with China, which remains the country’s dominant source of industrial and consumer goods.
The 2025 Performance by the Numbers
Nigeria’s total exports in 2025 reached ₦85.13 trillion, comfortably outpacing total imports of ₦67.35 trillion.
| Trade Metric | 2025 Value | % Change from 2024 |
| Total Merchandise Trade | ₦152.47 Trillion | +10.46% |
| Total Exports | ₦85.13 Trillion | +13.12% |
| Total Imports | ₦67.35 Trillion | +7.34% |
| Trade Balance | +₦17.78 Trillion (Surplus) | N/A |
Crude Oil vs. The New Economy
The Crude Backbone: Crude oil exports remained the undisputed engine of Nigeria’s foreign exchange, valued at ₦47.43 trillion and accounting for 55.72% of all export earnings.
Non-Oil Gains: A promising sign for the administration’s diversification efforts, non-oil products contributed ₦12.36 trillion to the total. This sector, which includes agricultural exports like cocoa and solid minerals, is slowly becoming a more significant component of the nation’s balance sheet.
The China Challenge: Nigeria’s Single Largest Deficit
The defining feature of the 2025 report is the widening gap in Nigeria-China trade relations. While Nigeria exports raw materials to Beijing, it imports high-value finished goods at a much faster rate.
- The Volume: Trade with China totaled ₦22.57 trillion, making it Nigeria’s largest single-country trade partner.
- The Imbalance: Imports from China—ranging from machinery to telecommunications equipment—accounted for over 30% of Nigeria’s total import bill, leading to a significant trade deficit that contrasts with the surpluses Nigeria enjoys with Europe and India.
Top Trading Partners in 2025
Nigeria’s export destinations were dominated by Western and Asian markets, while imports were concentrated in manufacturing hubs.
| Rank | Export Destinations | Import Sources |
| 1 | India (₦15.50tn) | China (₦22.57tn) |
| 2 | United States (₦12.99tn) | United States (₦5.41tn) |
| 3 | Netherlands (₦10.72tn) | Netherlands (₦4.82tn) |
| 4 | Spain (₦8.50tn) | India (₦3.71tn) |
| 5 | France (₦6.98tn) | Belgium (₦2.15tn) |
The Trade Surpluses
Nigeria has now recorded consecutive annual trade surpluses since 2022, proving that the nation’s commodities remain in high global demand. However, the record deficit with China underscores the urgent need for domestic manufacturing.
Until Nigeria can produce more of the “machinery and transport equipment” it currently buys from Beijing, a significant portion of its oil wealth will continue to flow back to Asian factories.
