The National Bureau of Statistics (NBS) on Monday disclosed that Nigerian total exports for the first quarter (Q1) of 2026 were valued at N21,169.27 billion, reflecting a 2.77 percent increase compared with N20,598.48 billion recorded in the corresponding quarter of 2025.
According to data released by NBS, the country export in the quarter under review recorded an 11.63 percent increase compared with N18,963.41 billion in Q4 2025.
‘In Q1 2026, Nigeria’s top five trading export partners were India, France,
The Netherlands, Spain, and The United States of America. The most exported commodities were crude oil, natural gas, Urea, whether or not in aqueous solution, other petroleum gases in a gaseous state, and Kerosine type jet fuel.
‘Exports of agricultural goods in the period under review amounted to N1,172.37 billion representing a 31.20 percent decline from N1,704.15 billion in Q1 2025 and an 11.39 percent decrease from N1,323.06 billion in Q4 2025.
‘In the same period, the value of raw material exports stood at N1,533.75 billion, representing a rise of 46.83 percent from N1,044.59 billion in Q1 2025 and a 28.62 percent increase from N1,192.49 billion in Q4 2025.
‘Analysis shows that solid mineral exports in Q1 2026 were valued at N102.80 billion; representing a 74.63 percent increase from N58.87 billion in Q1 2025and a decrease of 12.02 percent from N116.84 billion in Q4 2025’ the data revealed.
NBS data showed that the value of manufactured goods exports in Q1 2026 stood at N302.64 billion, reflecting a 2.79 percent increase from N294.43 billion in Q1 2025, and a decrease of 28.53 percent from N423.43 billion in Q4 2025.
‘Crude oil exports in Q1 2026 were valued at N11,202.35 billion; the value decreased by 13.53 percent from N12,955.03 billion in Q1 2025 and increased by 15.45 percent from N9,702.87 billion in Q4 2025.
‘Other oil product exports in Q1 2026 stood at N6,780.18billion, showing an increase of 51.49 percent from N4,475.58 billion in Q1 2025 and an increase of 10.88 percent from N6,115.00 billion in Q4 2025.
‘The value of total imports stood at N13,619.33 billion in the first quarter of 2026, representing a 18.17 percent decrease from the value recorded in the corresponding quarter of 2025 (N16,644.42 billion) and a 21.05 percent decrease compared to the value recorded in Q4 2025 (N17,250.93 billion)’.
The data further showed that the value of total imports stood at N13,619.33 billion in the first quarter of 2026, ‘representing a 18.17 percent decrease from the value recorded in the corresponding quarter of 2025 (N16,644.42 billion) and a 21.05 percent decrease compared to the value recorded in Q4 2025 (N17,250.93 billion).
‘Analysis of Nigeria’s import trade reveals that China remained the leading source of imports in the first quarter of 2026, followed by the United States of America, India, Germany, and the United Arab Emirates.
‘The most imported commodities during the quarter were petroleum oils and oils obtained from bituminous minerals (crude), gas oil, durum wheat, machines for the reception, conversion, and transmission of voice, images, or data, and used vehicles with diesel or semi-diesel engines’ the data indicated.