Nigeria’s total merchandise trade surged to N38.9 trillion in Q3 2025, according to fresh data from the National Bureau of Statistics.
This figure marks a significant milestone in the country’s post-pandemic economic recalibration and underscores the resilience of Africa’s largest economy amid ongoing structural reforms.
The latest trade value represents an 8.71% increase from the N35.8 trillion recorded in the same period of 2024 and a 2.36% expansion relative to the N38.04 trillion posted in Q2 2025.
Trade Surplus of N6.69 Trillion Signals Strong Economic Recovery
This upward momentum highlights not only improved trade flows but also strengthening domestic output capacity and rising external demand for Nigerian commodities.
Exports remained the dominant component of the nation’s trade profile, totalling N22.8 trillion, while imports stood at N16.12 trillion, resulting in a robust trade surplus of N6.69 trillion.
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This surplus—one of the largest in recent quarters—serves as a pivotal indicator of improving external balances and reduced vulnerability to foreign exchange volatility.
Exports Drive Growth Amid Structural Reforms and Rising Demand
From a macroeconomic perspective, the expansion in trade volume aligns positively with Nigeria’s broader GDP trajectory. As external trade deepens, revenue inflows from export-linked activities, particularly in energy, agriculture, and mineral sectors, are expected to bolster government earnings.
This enhances fiscal space, supports budget implementation, and strengthens the country’s capacity to sustain ongoing economic reforms.
Moreover, the sustained improvement in trade dynamics contributes to stabilising the naira, moderating currency pressures, and reinforcing investor confidence.
Improved Trade Flows Enhance Nigeria’s Global Economic Competitiveness
With higher export receipts feeding into external reserves, Nigeria is better positioned to navigate global market headwinds while maintaining a more predictable monetary environment.
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Overall, the Q3 2025 merchandise trade performance signals a decisive shift toward economic stabilisation. If sustained, this trajectory could accelerate Nigeria’s path to a more diversified, revenue-balanced, and globally competitive economy, reinforcing the foundation for long-term growth.
Sunday Michael Ogwu is a Nigerian journalist and editor of Pinnacle Daily. He is known for his work in business and economic reporting. He has held editorial roles in prominent Nigerian media outlets, where he has focused on economic policy, financial markets, and developmental issues affecting Nigeria and Africa more broadly.
