Skip to main content

The Traffic NG

  • info@thetraffic.ng
  • 7 Nasir El Rufai Crescent, Guzape
THE TRAFFIC NG LOGO
THE TRAFFIC NG LOGO
ADVERTISE WITH US
foreign trade

Nigeria’s total merchandise foreign trade rose to N41.44 trillion in the second quarter of 2026, highlighting the scale of the country’s trade activities amid continuing economic reforms.

The figure was reported by the National Bureau of Statistics in its latest foreign trade data, which tracks the value of goods traded between Nigeria and other countries during the period.

The latest trade performance reflects the continued importance of international commerce to Nigeria’s economy, with exports and imports contributing significantly to economic activity.

The N41.44 trillion figure covers merchandise trade during the second quarter and provides an indication of the volume of economic interactions between Nigeria and international markets.

Foreign trade remains an important source of revenue and foreign exchange for Nigeria, particularly through exports of crude oil and other commodities.

At the same time, the country continues to import a wide range of goods, including machinery, manufactured products, industrial inputs and other commodities required by households and businesses.

The latest data comes as the Federal Government continues to implement economic reforms aimed at improving production, investment and the country’s ability to participate competitively in international trade.

Analysts have consistently stressed the importance of increasing non-oil exports to reduce Nigeria’s dependence on crude oil and strengthen foreign exchange earnings.

The government has also continued to promote domestic production as part of efforts to reduce excessive reliance on imported goods.

A stronger export base could provide additional foreign exchange while creating opportunities for Nigerian producers to access international markets.

Nigeria’s trade figures are closely watched because changes in exports, imports and the balance between them can influence foreign exchange availability, government revenue and overall economic performance.

READ ALSO: NGX Starts Climate Assessments

The NBS data provides policymakers and businesses with an important measure for assessing developments in the external sector.

The second-quarter figure also comes against the backdrop of efforts by the Tinubu administration to reshape the economy through fiscal and monetary reforms.

The government has maintained that the reforms are necessary to create a stronger and more sustainable economy, although businesses and consumers continue to adjust to changing economic conditions.

For exporters, improved access to international markets, efficient ports and lower logistics costs remain important factors in determining competitiveness.

The government is also expected to continue encouraging domestic industries to increase production and develop goods capable of meeting international standards.

The latest foreign trade figure therefore underscores both the size of Nigeria’s participation in global commerce and the need to strengthen the productive capacity required to sustain export growth.

The Traffic NG
foreign trade
Amarachi Ihesiulo
The Traffic NG

Categories

Search
Recent Post
Tinubu
Ondo Air Crash: Tinubu Demands Answers, Mourns
  • October 6, 2026
  • 3 min read
First Lady
2027: First Lady Unveils APC Women’s Grassroots
  • October 6, 2026
  • 3 min read
ICPC
ICPC Asks Court To Throw Out El-Rufai’s
  • October 6, 2026
  • 3 min read
Featured Videos
All Tags
ADC AFCON Alhaji Atiku Abubakar Aliko Dangote Anthony Joshua APC Atiku Abubakar aviation CBN Court Customs Dangote EFCC FIFA First Lady First Lady Senator Oluremi Tinubu FRSC Gov. Hope Uzodimma Governor Hope Uzodimma ICPC INEC JAMB Lagos Lionel Messi NDLEA Nigeria NSC Nyesom Wike NYSC Oil PDP Peter Obi Police President Bola Ahmed Tinubu President Bola Tinubu Senate Senator Oluremi Tinubu sports Sunday Dare Super Eagles Taiwo Oyedele Troops United Nigeria Airlines Vice President Kashim Shettima Victor Osimhen

Related Posts

G7 oil
Business
G7 Oil Stock Release Set to Ease Near-Term Diesel Pressures
airlines
Business
Nigerian Airlines Receive 749 Million Litres of Jet Fuel Amid Severe Supply Volatility
bonds
Business
Federal Government Raises N7.15 Trillion Through Domestic Bonds
Small Businesses
Business
How Small Businesses Are Turning to Community Ties to Boost Sales

© 2025. All rights reserved  - Developed by ICS.