Nigeria’s Trade Surplus Hits ₦12.59tn in Q2 2026 as Imports Decline

Nigeria recorded a ₦12.59 trillion trade surplus in the second quarter of 2026, up 101.32% from a year earlier, according to National Bureau of Statistics data. Total merchandise trade rose 5.61% to ₦41.44 trillion. Exports increased by 18.77%, while imports fell by 12.55%. The wider surplus was therefore driven largely by reduced imports rather than a major expansion in total trade. Crude oil remained the country’s biggest export, highlighting Nigeria’s continued dependence on oil earnings. The update also noted Dangote Petroleum Refinery’s ₦2.15 trillion retail IPO, alongside renewed disagreement between Atiku Abubakar and Senate President Godswill Akpabio over the impact of the Federal Government’s economic reforms.

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