Exports Drive Growth as Imports Also Spike; Petroleum Products Dominate Regional Trade
Nigeria’s trade with Economic Community of West African States (ECOWAS) countries surged 43 percent year-on-year (YoY) to N6.9 trillion in the first nine months of 2025, up from N4.82 trillion in the same period in 2024, according to the Foreign Trade in Goods Statistics Report released by the National Bureau of Statistics (NBS).
The report showed that the growth was largely fueled by a 37.6 percent YoY increase in exports, which rose to N6.14 trillion from N4.46 trillion over the same period. Imports from ECOWAS countries also recorded a sharp rise, climbing 113.15 percent YoY to N770.46 billion, compared to N361.46 billion in 2024.
On a quarter-on-quarter (QoQ) basis, trade with ECOWAS also posted strong gains. In Q2 2025, trade rose 82.6 percent to N2.32 trillion from N1.27 trillion in Q1 2025, and further increased 43 percent QoQ in Q3 2025 to N3.32 trillion.
The NBS report detailed that exports to ECOWAS member states totaled N3.14 trillion in Q3 2025, while imports amounted to N179.26 billion.
“Analysis by commodities shows that the main exports to ECOWAS countries were petroleum oils and oils obtained from bituminous minerals, crude valued at N1.32 trillion (42.14%), gas oil at N529.57 billion (16.89%), and light vessels, fire floats, floating cranes, and other vessels worth N497.16 billion (15.86%),” the report stated.
These top three commodities alone accounted for 74.89 percent of total exports to the ECOWAS region.
On the import side, Nigeria mainly sourced crude palm oil valued at N30.08 billion (16.78%), petroleum bitumen at N22.68 billion (12.65%), and extracts, essences, and concentrates worth N3.03 billion (1.69%).
The data highlights Nigeria’s growing trade integration with West African neighbours, with petroleum and related products continuing to dominate regional commerce, while imports remain concentrated in essential raw materials and processed commodities.
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