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Nigeria’s Merchandise Trade Grows to N38.9trn in 2025

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By Tony Obiechina, Abuja

Nigeria’s total merchandise trade increased to N38.9 trillion in the third quarter of 2025, reflecting positive momentum in the nation’s import-export performance even in the face of global economic uncertainties.

The latest ‘Foreign Trade in Goods Statistics Q3 2025’ report by the National Bureau of Statistics (NBS) released on Thursday, indicated that the Q3 merchandize trade value grew  by 8.

71% year-on-year from the N35.
8 trillion recorded in the corresponding quarter of 2024 but 2.36% rise compared to the N38.04 trillion value recorded in Q2, 2025.

In the quarter under review, the trade data showed that exports accounted for 58.

59% of total trade with a value of N22.8 trillion, showing an increase of 11.08% over the N20.54 trillion value recorded in the corresponding quarter of 2024, and by 0.28% compared to the N22.75 trillion value recorded in Q2, this year

According to the NBS, crude oil remained Nigeria’s dominant export commodity in Q3 2025, with a value of N12.81 trillion, representing 56.14% of total exports for Q3 2025.

The import-export trade reflected that non-crude oil exports totalled N10.01 trillion, accounting for 43.86% of total exports, and in this category, non-oil products contributed N2.9 trillion, or 13.14% of total exports.

A further analysis of the merchandize trade data in the quarter under review revealed that agricultural produce exports amounted to N786.62 billion, reflecting an 11.69% decline from N890.72 billion in Q3 2024 and a 37.39% drop compared to N1.26 trillion in Q2 2025, while Raw material exports were valued at N1.04 trillion, representing a 136.38% increase from N439.82 billion in Q3 2024 and a 26.83% rise compared to N819.72 billion recorded in the preceding quarter.

Also, Solid mineral exports amounted to N100.81 billion, showing a 29.75% increase from N77.70 billion in Q3 2024 and an additional 30.41% growth from N77.31 billion reported in the preceding quarter.

The data further showed that the value of manufactured goods exports stood at N978.53 billion, reflecting a 6.03% decline from N1.04 trillion in Q3 2024. However, compared to Q2 2025, the Q3 2025 value represented a 21.74% increase over the N803.81 billion recorded in the previous quarter.

The statistics agency reported that Exports of other oil products in Q3 2025 totalled N7.01 trillion, showing 51.72 per cent rise from N4.62 trillion in Q3 2024, but dipping by 9.42 per cent from the N7.74 trillion recorded in Q2 2025.

Overall, the exports data for Q3 2025 reflected a mixed performance across sectors, with strong gains in raw materials and solid minerals contrasting declines in agricultural exports and some oil-related categories.

On the import side, the data showed that Imports accounted for 41.41 per cent of Nigeria’s total trade in the quarter under review, peaking at N16.12 trillion and representing 5.51 per cent increase from the N15.28 trillion recorded in Q3 2024, and 5.47 per cent rise compared to N15.29 trillion in the preceding quarter.

Despite the growth in imports, Nigeria maintained a positive merchandise trade balance in Q3 2025.

Specifically, the NBS reported that the nation’s trade surplus stood at N6.69 trillion, but represented 10.36 per cent decline from the N7.46 trillion recorded in Q2 2025, due to the faster pace of import growth relative to exports.

On the merchandize trade based on the countries traded with, the NBS data showed that on the import side, China remained Nigeria’s leading trading partner in Q3 2025, followed by the United States, India, the United Arab Emirates, and Belgium.

According to the data, the most imported commodities during the quarter included petroleum oils and oils obtained from bituminous minerals (crude), gas oil, premium motor spirit (petrol), durum wheat, and cane sugar intended for sugar refining.

On the export side, Nigeria’s top five trading partners were India, Spain, France, the Netherlands, and Italy. The major commodities exported to the countries during the quarter under review comprised crude oil, natural gas, other petroleum gases in a gaseous state, kerosene-type jet fuel, and urea, whether or not in aqueous solution.

Analysts believe that the trade surplus recorded by Nigeria during the quarter was reflective of the improving performance of the economy as the government continued to consolidate on the modest achievements of the nation’s monetary and fiscal policy reforms.

For instance, they maintained that the higher trade volumes pointed to improved production levels, stronger demand for Nigerian commodities, and greater activity at the ports while the increase in total exports demonstrated the resilience in the country’s main revenue-generating sectors.

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Youth Leader Felicitates Gov. Mbah at 54

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A youth leader from Enugu North, Comrade Ezekiel Eze has felicitated the Governor of Enugu State, Peter Mbah who turned 54 years yesterday, describing him as the best politician in the State. 

Speaking with our Correspondent in Abuja, Comrade Ezekiel said that Enugu State has not seen the best of Governor Mbah yet, until he returns for the second term emphasizing that “the people of the state are proud of such an illustrious son who is driving major developmental strides, moving Enugu forward with the desired speed”.

“I’m happy to have Governor Mbah as my leader both at the party and government levels.

He’s a very brilliant man, with deft political calculation and unmatched excellence in developmental strides. He has changed the face of the state in all ramifications. Where do I start mentioning his achievements? In Sports, Enugu Rangers is second on the premier league table. On transportation, have you flown Enugu Air, which his government singlehandedly brought for us? Check the indices on education where he’s building Smart schools across each community in the state. On infrastructure, security, agriculture and see for your self. So, I’m wishing him a resounding, gracious and fruitful birthday”, he said. 

Comrade Ezekiel, who recently declared his interest to fill the vacant Enugu North senatorial seat however urged the entire people of Enugu North to support the government of Governor Mbah, saying that as a loyal party member, his support for APC both at the national and state level was unprecedented. 

” Let me use this opportunity to wish my Governor, His Excellency Peter Ndubusi Mbah a happy birthday. He’s a perfect gentleman who came into governance for the good of the common people. He’s liberal, intelligent and extremely pro people. He has given Enugu a beautiful face lift and he would do more when he returns to complete his tenure. I support him with my body and soul. I appeal to all persons from Enugu North to support him because the records of his works are there for everyone to see. 

” Yes, I’m interested in becoming the senator representing Enugu North. I’m young,like my Governor and also his political student. Governance now is for young people with sound and positive mindset. The era of old people are gone, and the surge in technology bears testimony to this”, he said. 

Speaking on his chances of winning the party ticket, Comrade Ezekiel said he’s very optimistic and doing everything within his reach to actualize the dream. 

“I’m not going in for showmanship. I’m fully out for the contest and I’m sure of victory. Why shouldn’t I win? I have consulted far and wide,but much more than anything else, I’m mentally and physically prepared to walk to the Senate and bring the best of legislative excellence to my people”, he said.

Enugu North is currently without a senator at the national assembly, following the death of Okey Ezea who passed on recently; a vacuum Comrade Ezekiel believes he’s to fill in. 

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Motorists, Commuters Groan as Petrol Hits N1, 350 per Litre

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Motorists and commuters across Lagos are facing rising transportation costs following another increase in the pump price of petrol, which now sells for between N1, 250 and N1, 350 per litre at filling stations.

A survey showed growing concern among road users as the increase, driven largely by global supply pressures and domestic price adjustments, continues to influence transportation expenses.

The latest increase follows another upward review of petrol prices by the Dangote Petroleum Refinery, which raised the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to N1, 175 per litre from N995 earlier in the week.

The adjustment represents an increase of N180, about 18.1 per cent within three days, marking the refinery’s third price review within the week and prompting swift adjustments across the downstream market.

Industry sources attribute the rise partly to heightened geopolitical tensions in the Middle East, particularly the escalating standoff between Israel and Iran, as well as attacks linked to Yemen’s Houthi movement in the Red Sea corridor.

The instability has forced many oil tankers to reroute from traditional shipping lanes, pushing global freight costs up by roughly 40 per cent, according to market data from the Baltic Exchange.

At the same time, international oil prices have risen, with Brent crude approaching 99 dollars per barrel, while the Nigerian currency trades at about N1, 650 to the dollar, factors analysts say are contributing to higher domestic fuel prices.

However, with the emergence of the Dangote refinery, Nigeria continues to rely significantly on imported refined petroleum products.

The spokesperson for the refinery, Anthony Echiejina, said the price adjustment reflects rising feedstock and logistics costs associated with developments in the global energy market.

Checks revealed that retail prices have increased across several outlets in Lagos, with petrol selling between N1, 200 and N1, 350 per litre depending on location.

Major marketers have also adjusted their pump prices. MRS Oil Nigeria Plc and Matrix Energy Group sell petrol at about N1, 250 per litre, while outlets of Ardova Plc (formerly AP) retail the product at around N1, 300 per litre.

Some independent stations charge slightly higher prices.

A NorthWest outlet in the Gbagada area dispensed petrol at about N1, 250 per litre, while several other stations across the metropolis sold the product close to the N1, 200 mark.

At a Mobil Station along the LASU–Isheri Road corridor, petrol was sold at N1, 250 per litre, while Petrocam Station nearby dispensed fuel at the same price.

Similarly, MRS stations in parts of Alimosho sold petrol at about N1, 250 per litre, while Mobil outlets in Alaguntan and Iyana Ipaja recorded prices of N1, 250 and N1, 350 per litre respectively.

Other stations, including Heyden outlets in Iyana Ipaja and along the Oshodi–Abeokuta Expressway, also sold petrol at about N1, 250 per litre, reflecting a broad market trend.

Meanwhile, market insiders have said pricing differences were increasingly influenced by variations in product sourcing, particularly between coastal marine lifting arrangements and gantry loading operations.

The increase in fuel prices has already led to higher transportation fares across Lagos, with commuters reporting increases of more than 30 per cent on several routes.

Commercial driver, Sodiq Olarenwaju, said the rising cost of petrol had made daily operations more demanding.

“We are the ones passengers blame for increasing fares, but they don’t realise how much we now spend on petrol.

“If we buy fuel at over N1, 000 per litre, we have no option but to adjust fares,” he said.

Another motorist, Funke Oladipo, described the experience of searching for fuel as stressful.

“I have been driving around since morning with my jerry can looking for petrol. Some stations that opened earlier have already shut their gates,” she said.

A private car owner, Dr. Adewale Suleiman, said fuel price increases often had wider economic implications.

“When fuel goes up, transport fares rise and the prices of goods follow immediately,” he said.

Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said geopolitical tensions in the Middle East often lead to volatility in global oil markets.

According to him, disruptions in the Strait of Hormuz, through which roughly 20 per cent of global crude oil shipments pass daily, can quickly push up oil prices, shipping costs and insurance premiums worldwide.

He noted that higher fuel prices could affect multiple sectors of the economy, particularly industries that rely heavily on energy and transportation.

“For manufacturers, the consequences can be significant, as many factories rely on diesel-powered generators due to electricity supply challenges,” Yusuf said.

The CPPE boss explained that rising fuel prices might increase costs of logistics; transporting raw materials and finished goods, potentially adding to inflationary pressures.

“As manufacturers absorb higher energy and logistics costs, firms may adjust pricing structures or production levels,” Yusuf said.

He also noted that Nigeria might not fully benefit from higher oil prices because crude production remains below capacity, fluctuating between about 1.4 million and 1.6 million barrels per day.

The organisation recommended measures such as strengthening crude production, building fiscal buffers from higher oil revenues and expanding domestic refining capacity.

It also emphasised the importance of sustained foreign exchange reforms, targeted support for vulnerable households and continued economic diversification.

“The evolving situation in the global energy market presents both opportunities and challenges for Nigeria,” Yusuf said.

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No Decision on Who Leads Sallah Durbar — Says Kano Govt

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By Aliyu Askira, Kano

Kano State Government has dismissed reports claiming that the 16th Emir of Kano, Muhammadu Sanusi II, will lead the forthcoming Sallah Durbar, describing the rumour as unfounded.

The clarification came on the heels of an earlier letter by the 15th Emir of Kano, Aminu Ado Bayero, to the State Commissioner of Police and other security agencies informing them of preparations to stage the 2026 Sallah Durbar celebrations despite the lingering Emirship dispute within the emirate.

A statement signed by the Commissioner for Information and Internal Affairs, Hon. Ibrahim Abdullahi Waiya, said no official decision has been taken regarding the leadership of the traditional event.

The State Government stated that matters relating to the Kano Emirate are currently before a court of law and urged the public to allow the due legal process to proceed without interference or actions that could create confusion.

It maintained its neutrality in the ongoing emirate dispute, distancing itself from all parties involved pending a final and legally binding judgment.

The statement also called on residents to remain law-abiding and refrain from spreading unverified information, urging reliance on credible and official sources for updates.

Media organizations and social media users were further advised to verify the authenticity of information before dissemination, particularly as Sallah celebrations approach, to prevent misinformation and potential unrest.

The government reaffirmed its commitment to sustaining peace, unity and stability in the state.

The Sallah Durbar in Kano is regarded as one of the most prominent cultural events in northern Nigeria, attracting thousands of residents and visitors who gather to witness colourful displays of horsemanship, traditional regalia and royal pageantry.

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