March 10, (THEWILL) — Nigeria’s merchandise trade reached a total value of ₦36,214.34 billion in the fourth quarter of 2025, the National Bureau of Statistics (NBS) reported on Tuesday.
Despite a decline in crude oil exports, the country maintained a positive merchandise trade balance of ₦1,712.48 billion, underscoring resilience in non-oil trade sectors.
According to the Bureau, total trade value represents a 1.07% decrease from ₦36,604.83 billion recorded in Q4 2024 and an 8.94% decline compared to ₦39,771.47 billion in Q3 2025.
Analysts attribute the reduction largely to weaker crude oil export performance during the quarter.
Exports accounted for 52.36% of total trade, valued at ₦18,963.41 billion.
This figure marked a 5.25% decrease from Q4 2024 (₦20,014.33 billion) and a 16.88% decline relative to Q3 2025 (₦22,813.57 billion), reflecting the ongoing volatility in the global oil market.
Despite the dip in exports, the sustained positive trade balance highlights the country’s growing diversification in trade, with non-oil sectors continuing to contribute significantly to overall merchandise flows.
Economists note that while crude oil remains a major determinant of Nigeria’s trade performance, increasing activity in agriculture, manufacturing, and services is helping to cushion the impact of fluctuating global oil prices.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
