The National Bureau of Statistics (NBS) has disclosed that crude oil dominated Nigeria’s export profile in the second quarter of 2025, contributing N11.97 billion or 52.60 per cent of the nation’s total exports.

According to the NBS report, Nigeria’s total exports stood at N22.75 billion during the period under review.

Non-crude oil exports were valued at N10.78 billion, accounting for 47.40 percent, while non-oil products contributed N3.05 billion, representing 13.39 percent of total exports.

The report also showed that Nigeria’s total merchandise trade rose to N38.04 billion in Q2 2025, reflecting a 20.05 per cent increase compared to N31.68 billion recorded in the same quarter of 2024, and a 5.59 per cent rise from N36.02 billion in the preceding quarter.

Exports accounted for 59.81 per cent of total trade, indicating a 28.43 per cent growth year-on-year and a 10.45 per cent rise compared with Q1 2025.

Imports stood at N15.29 billion or 40.19 per cent of total trade, showing a 9.43 per cent increase year-on-year but a slight 0.90 per cent decline from the first quarter of 2025.

With exports outpacing imports, the merchandise trade balance remained positive at N7.46 billion, marking a 44.31 per cent increase compared to the previous quarter. (Saturday Tribune)