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Events / Nigeria Q4 2025 Trade Surplus Declines
Domestic trade statistics

Nigeria Q4 2025 Trade Surplus Declines

Analysis based on 9 articles · First reported Mar 10, 2026 · Last updated Mar 11, 2026

Sentiment
0
Attention
4
Articles
9
Market Impact
Direct
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Market Impact

The decline in Nigeria's crude oil exports and the overall weakening of its trade balance could negatively impact investor confidence and the Nigerian naira. However, the sustained trade surplus, despite the decline, offers some stability to the financial markets.

Oil and gas Agriculture Manufacturing
Event Summary

Nigeria recorded a trade surplus of ₦1.71 trillion in the fourth quarter of 2025, as disclosed by the Nigeria===National Bureau of Statistics. This figure represents a moderation from previous quarters and a decline compared to Q4 2024, primarily due to a significant drop in crude oil exports, which remain Nigeria's dominant export commodity. Total merchandise trade stood at ₦36.21 trillion, a decrease from both Q4 2024 and Q3 2025. While exports declined, imports increased, with China, the United States, the Netherlands, India, and Brazil being major import partners. The Netherlands, India, Spain, France, and Canada were Nigeria's top export destinations. The data highlights Nigeria's continued reliance on crude oil for foreign exchange earnings and its dependence on imported goods, particularly manufactured items and agricultural products.

Key Actions
90 Nigeria recorded trade surplus
85 Nigeria experienced decline in exports
70 Nigeria increased imports
60 Nigeria===National Bureau of Statistics released Foreign Trade Statistics Report
Entities Involved
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Nigeria
Nigeria recorded a trade surplus of ₦1.71 trillion in Q4 2025, despite a decline in exports primarily due to reduced crude oil shipments. The country's overall trade balance weakened year-on-year, highlighting its continued reliance on crude oil exports and increasing imports.
Importance 100 Sentiment 0
govactor
Nigeria===National Bureau of Statistics
The Nigeria===National Bureau of Statistics released the Foreign Trade Statistics Report, providing key data on Nigeria's trade performance in Q4 2025. This report is the primary source of information for the event.
Importance 70 Sentiment 0
cnt
China
China remained Nigeria's largest import partner in Q4 2025, accounting for a significant portion of total imports.
Importance 30 Sentiment 0
cnt
United States
The United States was a major import partner for Nigeria in Q4 2025.
Importance 20 Sentiment 0
cnt
Netherlands
The Netherlands was among Nigeria's top export destinations and a significant import partner in Q4 2025.
Importance 20 Sentiment 0
cnt
India
India was one of Nigeria's top export destinations and a major import partner in Q4 2025.
Importance 20 Sentiment 0
cnt
Brazil
Brazil was listed as one of Nigeria's major import partners during Q4 2025.
Importance 10 Sentiment 0
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Relationships
Nigeria related ↔ Nigeria===National Bureau of Statistics
China related ↔ Nigeria
United States related ↔ Nigeria
Netherlands related ↔ Nigeria
India related ↔ Nigeria
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