NIGERIA'S Q1 2026 TRADE REPORT

Nigeria's trade surplus surged to a record ₦7.54 trillion (US$5.47 billion) in Q1 2026, driven by stronger crude oil exports and a sharp decline in petroleum product imports.

While, crude oil continues to dominate export earnings, agricultural exports are declining, and intra-African trade remains heavily concentrated in energy products.

In this week's Treasury Digest, we unpack the key drivers behind Nigeria's strongest trade performance in recent years and examine what the data reveals about the country's economic structure, trade resilience, and long-term growth prospects.