Nigerias Top 10 export destination in Q1
Nigeria’s export trade experienced a significant uplift in the first quarter of 2025, reaching a total of N20.598 trillion, marking a 2.92% increase from the N20.01 trillion recorded in the preceding quarter.
On a year-over-year basis, this reflects a 7.42% rise from the N19.17 trillion reported in Q1 2024, as per figures released by the National Bureau of Statistics (NBS).
India, Italy, and the Netherlands continued to be Nigeria’s leading export destinations during this period, reaffirming the nation’s robust trade connections with key global markets.
The NBS report further emphasized that crude petroleum remained Nigeria’s predominant export commodity, accounting for N12.96 trillion, which constitutes 62.89% of total exports. Natural gas exports followed closely at N1.93 trillion, while other petroleum gases in gaseous form registered an export value of N1.78 trillion.
Below is the ranking of Nigeria’s top 10 export destinations for Q1 2025, juxtaposed with Q1 2024, based on total export value:
10. Malaysia
Nigeria’s exports to Malaysia soared to N550.30 billion in Q1 2025, marking the country’s emergence as a principal export destination for Nigeria. Previously, Nigeria exported a mere N99 billion to Malaysia in Q1 2024.
Crude oil dominated Nigeria’s exports to Malaysia, accounting for N458.98 billion, while non-crude oil exports amounted to N91.32 billion during the quarter. Malaysia’s share of Nigeria’s total exports was documented at 2.67%, indicating the burgeoning trade relationship between the two nations. Non-crude oil products exported to Malaysia include standard & superior quality cocoa beans, tin ores and concentrates, and technically specified natural rubber (TSNR).
9. France
France’s trade with Nigeria experienced a sharp decline in Q1 2025, with total exports plummeting by 32.08% to N1.443 trillion from N2.13 trillion recorded in Q1 2024. Despite the downturn, crude oil remained the principal export commodity, accounting for N1.28 trillion, while non-crude oil exports contributed N162.32 billion during the quarter.
Non-crude oil products exported to France include natural cocoa butter and Urea.
8. Spain
Spain ranked as Nigeria’s eighth-largest export destination in Q1 2025, with total exports valued at N1.44 trillion, marking a 28.84% decline compared to the N2.02 trillion recorded in the same quarter of the previous year.
Crude oil continued to dominate Nigeria’s exports to Spain, accounting for N989.54 billion, while non-crude exports amounted to N450.48 billion. Spain’s share of Nigeria’s total exports was documented at 6.99%, underscoring its role as a key purchaser of Nigerian non-crude goods during the period.
Non-crude oil products exported to Spain include refined lead, dredgers, and technically specified natural rubber (TSNR).
7. Canada
Canada ranked as Nigeria’s seventh-largest export destination in Q1 2025, with total exports valued at N813.44 billion, representing a 26.75% decline from the N1.11 trillion recorded in the same quarter of the previous year, according to data from the National Bureau of Statistics (NBS).
Crude oil dominated Nigeria’s exports to Canada, accounting for N796.97 billion, while non-crude exports contributed N16.46 billion during the quarter. Canada’s share of Nigeria’s total exports was documented at 3.95%.
6. South Africa
South Africa retained its position as Nigeria’s sole African country among its top ten export destinations in Q1 2025, with total exports valued at N708.69 billion, marking a 25.95% decline from N957.06 billion recorded in the same quarter of the previous year.
Crude oil dominated Nigeria’s exports to South Africa, accounting for N704.73 billion, while non-crude oil exports amounted to N3.96 billion during the quarter. Despite the decline, South Africa’s consistent presence on Nigeria’s export list highlights the importance of intra-African trade. Non-crude oil products exported to South Africa include cigarette paper.
5. Indonesia
Indonesia ranked as Nigeria’s fifth-largest export destination in Q1 2025, with total exports valued at N1.19 trillion, reflecting a 4.13% increase from the N1.14 trillion recorded in Q1 2024, according to the National Bureau of Statistics (NBS).
Crude oil dominated Nigeria’s exports to Indonesia, accounting for N1.15 trillion, while non-crude exports amounted to N46.86 billion. Indonesia’s share of Nigeria’s total exports was documented at 5.79%, reinforcing its role as a consistent importer of Nigerian crude oil.
Despite stable trade volumes, Nigeria’s non-oil exports to Indonesia remain relatively low, signaling potential opportunities for diversification in the country’s export portfolio. Non-crude oil products exported to Indonesia include superior-quality cocoa beans.
4. United States
The United States emerged as Nigeria’s fourth-largest export destination in Q1 2025, with total exports amounting to N1.54 trillion, marking a 17.73% growth from the N1.31 trillion recorded in the same period of the previous year.
Notably, the U.S. remains a key market for Nigeria’s non-crude exports, nearly matching its crude oil imports. Liquefied natural gas, agricultural commodities, and metals were among the significant contributors to Nigeria’s export trade with the U.S. during the period.
Nigeria exported N779.38 billion worth of crude oil and N764.19 billion in non-oil goods to the U.S. in Q1 2025. The significant non-oil exports signal increasing trade diversification between the two countries, creating new opportunities for market expansion. Non-crude oil products exported to the United States include standard quality cocoa beans and Urea.
3. Netherlands
The Netherlands secured the third spot among Nigeria’s top export destinations in Q1 2025, driven by strong demand for both crude and non-crude exports, particularly in the oil and gas, agriculture, and industrial sectors.
Total exports to the Dutch market surged to N2.26 trillion, marking a 33.20% increase from N1.69 trillion recorded in Q1 2024, according to the latest data from the National Bureau of Statistics (NBS).
Crude oil dominated the export trade, accounting for N1.36 trillion, while non-crude exports contributed N894.08 billion during the quarter. Non-crude oil products exported to the Netherlands include standard & superior quality cocoa beans.
2. Italy
Italy secured the second position among Nigeria’s top export destinations in Q1 2025, with total exports amounting to N1.24 trillion, representing a 37.48% increase from the N904.27 billion recorded in the same period of the previous year.
Crude oil dominated the trade, accounting for N1.11 trillion, while non-crude exports stood at N135.61 billion. Italy’s share of Nigeria’s total exports was documented at 6.04%, underscoring its significance in Nigeria’s global trade network.
The steady growth in exports highlights Italy’s increasing demand for Nigerian commodities, reinforcing the strong trade ties between both nations. Non-crude oil products exported to Italy include standard quality cocoa beans and other food crops.
1. India
India emerged as Nigeria’s top export destination in Q1 2025, with total exports reaching N2.84 trillion, representing a significant 76.35% increase from the N1.61 trillion recorded in the same period of the previous year, according to data from the National Bureau of Statistics (NBS).
Notably, India imported more non-crude products than crude oil, signaling a diversification in Nigeria’s trade with the Asian powerhouse. Crude oil exports to India stood at N1.41 trillion, while non-oil exports recorded an impressive N1.43 trillion during the quarter.
India’s share of Nigeria’s total exports was documented at 13.80%, reinforcing its status as a key trading partner and highlighting the expanding scope of Nigeria’s export diversification efforts.
Non-crude oil products exported to India include urea and cashew nuts in shell.
The NBS export trade data for Q1 2025 indicates that while crude oil remains Nigeria’s principal export, there are signs of diversification, especially in trade relationships with India, the United States, and Spain.
The data also reveals concerning trends, particularly with intra-African trade, as only South Africa featured among Nigeria’s top export destinations within Africa.
