Nigeria’s trade surplus rises sharply in the first quarter of 2026, according to data from the country’s statistics agency, the NBS. Multiple outlets report that the surplus increases by roughly 341% quarter-on-quarter to N7.55 trillion (often rounded as N7.5 trillion) in Q1 2026, compared with about N1.7 trillion in Q4 2025.
The reports also place Nigeria’s overall merchandise trade at N34.8 trillion in Q1 2026, with exports exceeding imports. The NBS-linked coverage attributes the widening surplus to stronger export performance—particularly crude oil sales—and, in some accounts, reduced imports.
While the outlets use slightly different figures for the growth rate and express the surplus with minor rounding differences, they consistently describe the same overall pattern: a large quarter-on-quarter expansion of the trade surplus during Q1 2026, supported by higher exports and net lower import pressure.
