Nigeria Records N113 Trillion Trade Value in 2025

By 𝔸bdulrazak Tomiwa

Minister Jumoke Oduwole announced that Nigeria achieved a trade surplus in 2025, with total trade reaching ₦113 trillion in the first nine months.

This performance highlights a significant strengthening of the nation’s external sector. The figures were presented during a budget defense session before the Senate.

The positive balance was driven by an 11% year-on-year growth in exports, totaling approximately $6.1 billion. Strategic interventions, such as expanded export warehouses and new air cargo corridors, boosted global competitiveness.

These initiatives have helped diversify the economy through non-oil trade.

Capital importation surged to $21 billion in the first ten months of 2025, a massive rise from previous years. Minister Oduwole attributed this growth to specialized “deal rooms” and the inaugural Domestic Investor Summit.

These efforts have successfully attracted higher levels of foreign and local investment.

Despite these gains, the Minister criticized the 2026 budget proposal for allocating only ₦2.72 billion to capital projects. She warned that such a small amount is insufficient to drive the nation’s industrialization agenda. Increased funding is necessary to sustain the momentum of the Renewed Hope Agenda.

Senate committee members praised the ministry’s performance but expressed concern over the budget’s limited scope for new projects. They noted that the proposal appeared to be a rollover of previous years rather than a forward-looking plan.

Lawmakers promised to review the funding request to support domestic production.

The Ministry remains focused on reaching a trillion-dollar economy by supporting local industries and non-oil exports.

However, achieving this goal depends heavily on securing the resources needed for infrastructure and investment promotion. Oduwole emphasized that the ministry’s impact is currently limited by its small capital vote.

Regarding the budget constraints, Oduwole stated, “The proposed capital allocation of ₦2.72 billion will be a stretch in meeting the full demands of our programmes and capital projects. Given the scope of our responsibilities, we respectfully seek the committee’s support for targeted enhancement of our capital allocation to enable us to effectively deliver on our mandate.”