Nigeria’s exports to the United States declined by N365.64 billion in the first quarter of 2026, while imports from the world’s largest economy almost doubled, pushing the country’s trade balance with the US into a deficit of about N1.63 trillion.
The latest National Bureau of Statistics (NBS) Q1 2026 Foreign Trade in Goods Statistics report showed that Nigeria exported goods valued at N1.18 trillion to the United States during the period, representing a 23.69 per cent decline from the N1.54 trillion recorded in the corresponding quarter of 2025.
In contrast, imports from the US surged by 97.33 per cent year-on-year to N2.81 trillion, up from N1.42 trillion in the first quarter of 2025, marking one of the fastest increases among Nigeria’s major trading partners.
The figures represent a sharp reversal in Nigeria’s trade position with the United States. While the country recorded a trade surplus of about N122 billion with the US in the first quarter of 2025, it swung to a trade deficit of approximately N1.63 trillion a year later as import growth far outpaced export earnings.
According to the NBS report, Nigeria imported N2.81 trillion worth of goods from the United States during the quarter, an increase of N1.38 trillion compared with the same period in 2025. On a quarter-on-quarter basis, imports also rose by 74.14 per cent from N1.61 trillion recorded in the fourth quarter of 2025.
The increase elevated the United States to Nigeria’s second-largest source of imports, behind China. American goods accounted for 20.6 per cent of Nigeria’s total imports during the quarter, while China retained the top spot with a 37.42 per cent share.
The growth in imports came despite a broader slowdown in Nigeria’s import spending. Overall imports into the country fell by 18.17 per cent year-on-year to N13.62 trillion, suggesting sustained demand for American products even as aggregate imports weakened.
On the export side, Nigeria’s shipments to the United States weakened considerably compared with the same period last year.
Exports fell by N365.64 billion, from N1.54 trillion in the first quarter of 2025 to N1.18 trillion in the first quarter of 2026, representing a 23.69 per cent decline.
Although exports rebounded by 31.6 per cent from N895.06 billion recorded in the fourth quarter of 2025, the quarterly recovery was insufficient to offset the annual decline, indicating weaker demand for Nigerian goods in the US market.
Despite the drop, the United States remained Nigeria’s fifth-largest export destination, accounting for 5.56 per cent of total exports during the quarter. India retained its position as Nigeria’s largest export market, followed by France, the Netherlands and Spain.
Overall, bilateral trade between Nigeria and the United States stood at N3.98 trillion during the first quarter of 2026, underlining the significance of the trade relationship despite the widening imbalance.
The trade outcomes coincided with protectionist trade policies introduced under US President Donald Trump, which have reshaped global sourcing decisions and trade flows.
Although the NBS report did not directly attribute Nigeria’s trade performance to tariff measures, the widening deficit occurred alongside Washington’s implementation of a “reciprocal” tariff regime that increased Nigeria’s tariff rate from 14 per cent to 15 per cent.
The executive order, signed in late July and effective from August 7, 2025, applies to a broad range of Nigeria’s non-oil exports, although crude oil exports remain largely exempt.
The higher tariff has introduced uncertainty for American importers and is believed to have weakened demand for Nigerian goods, contributing to the decline in exports.
Earlier, Afreximbank Research said President Trump’s reciprocal tariff policy was likely to have only a limited direct impact on African economies because of the continent’s expanding trade relationship with China.
According to the research institution, recent trade data indicate that China has overtaken the United States as Africa’s leading trading partner, reflecting a significant shift in the continent’s global economic alliances.
Similarly, the Minister of Industry, Trade and Investment, Jumoke Oduwole, had said that Nigeria was “not worried”by President Trump’s trade policies.
Boluwatife Enome
