By Jane Okafor, Abuja
Nigeria’s total merchandise trade has risen to ₦36,024.66 billion in the first quarter of year 2025(Q1, 2025).
This represents an increase of 6.19% compared to the value of ₦33,925.72 recorded in the corresponding period of 2024 and decreased by 1.58% compared to the value recorded in the preceding quarter (₦36,604.83).
This was revealed by the National Bureau of Statistics (NBS) in its latest Foreign Trade Statistics Report for Q1 2025 on Wednesday, June 11.
NBS stated that in the quarter under review, exports accounted for 57.18% of total trade with a value of ₦20,598.48 billion, showing an increase of 7.42% over the value recorded in the corresponding quarter of 2024 (₦19,176.19) and by 2.92% compared to the value recorded in Q4, 2024 (₦20,014.33).
Its further analysis also showed that Nigeria’s exports trade continued to be dominated by crude oil in the first quarter of 2025 valued at ₦12,955.03 billion representing 62.89% of total exports while the value of non-crude oil exports stood at ₦7,643.45 billion accounting for 37.11% of total exports; of which non-oil products contributed ₦3,167.88billion or 15.38% of total exports.
