Nigeria’s crude oil exports generated approximately 12.81 trillion naira in revenue during the third quarter of 2025, according to the National Bureau of Statistics (NBS). This amount represents a 56.14 % share of the country’s total exports for the period. Although the value of crude oil exports fell 4.47 % compared with the same quarter in 2024, it rose 7.03 % from the second quarter of 2025. The NBS’s “Foreign Trade in Goods Statistics” report underscores the continued dominance of the petroleum sector in Nigeria’s foreign‑exchange earnings.
Mineral products—primarily crude oil and petroleum gases—accounted for 87.71 % of total exports, valued at 20.01 trillion naira. Other oil‑product exports reached 7.01 trillion naira, and together with crude oil exports of 12.81 trillion naira they reflected a 51.72 % increase from the same quarter in 2024. Nigeria’s total merchandise trade stood at 38.94 trillion naira in the third quarter of 2025, an 8.71 % rise from the corresponding quarter in 2024 and a 2.36 % increase from the second quarter of 2025. Exports accounted for 58.59 % of total trade ( 22.81 trillion naira), while imports made up the remaining 41.41 % ( 16.12 trillion naira), resulting in a positive trade balance of 6.69 trillion naira, despite a 10.36 % decline from the preceding quarter.
The report highlights the significant role of oil and oil‑related products in Nigeria’s export growth, offsetting declines in non‑oil segments, particularly agricultural exports. Europe remained the largest export destination, absorbing 8.71 trillion naira ( 38.16 % of total exports), driven largely by crude oil shipments. India emerged as Nigeria’s single largest export market, with goods valued at 2.26 trillion naira, followed by Spain, France, the Netherlands, and Italy. In trade with African and ECOWAS countries, petroleum oils and oils obtained from bituminous minerals (crude) accounted for 39.57 % of Nigeria’s exports to the region.
While oil‑related trade posted strong numbers, non‑oil exports presented a mixed picture. Agricultural exports fell 11.69 % year‑on‑year, and manufactured‑goods exports declined 6.03 %. These latest trade figures underscore the ongoing importance of the petroleum sector to Nigeria’s economy, with crude oil exports driving foreign‑exchange earnings. As the country seeks to diversify its economy, the performance of non‑oil sectors will be crucial for achieving sustainable growth and reducing dependence on oil revenues.
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