Nigeria has posted a major economic boost with a trade surplus of N7.5 trillion in the second quarter of 2025 (Q2’25), according to fresh data from the National Bureau of Statistics (NBS).
The figure marks a sharp 52 percent increase quarter-on-quarter (QoQ) compared to the N5.17 trillion surplus recorded in the first quarter of 2025.
The NBS disclosed the update in its Foreign Trade in Goods Statistics Report for Q2 2025, published on its official X handle on Friday.
The report showed that Nigeria’s total merchandise trade hit N38.037 trillion in Q2, representing a 5.5 percent rise against the N36.024 trillion recorded in Q1.
Breaking down the numbers, imports fell slightly to N15.28 trillion, a 0.9 percent decline compared to N15.42 trillion in Q1.
On the other hand, exports surged to N22.75 trillion, representing a 10.49 percent jump from N20.59 trillion in the previous quarter.
Crude oil remained the country’s dominant export product.
The NBS report revealed that crude oil exports stood at N12.95 trillion, accounting for 62.89 percent of total exports.
Non-crude oil exports also contributed significantly with a value of N10.78 trillion, showing gradual progress in Nigeria’s push for diversification.
Analysts say the rising surplus is largely tied to improved global demand for oil and favourable market prices, which boosted Nigeria’s earnings despite a slight slowdown in imports.
However, experts warn that heavy reliance on crude oil exports makes the economy vulnerable to global price shocks.
Nigeria’s government has continued to push for reforms aimed at expanding non-oil exports, including agriculture, solid minerals, and manufactured goods, to reduce the nation’s overdependence on oil.
The Q2 2025 surplus marks one of the highest in recent years and is expected to ease pressure on foreign reserves and the naira in the short term.
Still, economists argue that without deeper industrialisation and infrastructure growth, the gains may not translate into long-term prosperity for Nigerians.