MIRIAM NNOLI 
The National Bureau of Statistics (NBS) on Friday disclosed that Nigeria recorded a trade surplus of N7.46 trillion in the second quarter (Q2) of 2025.
The NBS, in its foreign trade report for Q2 of 2025, revealed that Nigeria’s exports totalled N22.75 trillion, while imports stood at N15.28 trillion, and the total trade was N38.03 trillion in the period reviewed.
Further analysis by the bureau shows that crude oil remained Nigeria’s major exported commodity in Q2 of 2025 with a value of N11.96 trillion, representing 52.60 per cent of total exports.
On the other hand, the report said the value of non-crude oil exports stood at N10.78 trillion, accounting for 47.40 per cent of total exports.
Also, non-oil products contributed N3.04 trillion or 13.39 per cent of total exports.
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“This (total trade) represents an increase of 20.05 per cent over the value, N31,683.75 billion recorded in the corresponding period of 2024 and an increase of 5.59 per cent compared to the value recorded in the preceding quarter (N36,024.66 billion).
“In the quarter under review, exports accounted for 59.81% of total trade with a value of N22,750.74 billion, showing an increase of 28.43% over the value recorded in the corresponding quarter of 2024 (N17,714.41 billion) and by 10.45% compared to the value recorded in Q1, 2025 (N20,598.48 billion).
“Using the Standard International Trade Classification, the top-ranked group imports were “mineral fuels” with N4,426.16 billion representing 28.95% of total imports, this was followed by “Machinery and transport equipment” with N4,338.91 billion or 28.38% of total imports and Chemicals & related products” with N2,461.32 billion (16.10% of total imports),” NBS added.
