Nigeria sold almost as much non-oil to Africa as it bought, except in energy and agriculture

Key Takeaways

  • Nigeria’s non-oil trade with Africa was nearly balanced, with an ₦88bn surplus on almost ₦2tn of trade in H1 2026.
  • Energy trade was entirely export-led, with Nigeria selling ₦156.5bn and recording no imports.
  • Solid minerals also leaned towards exports, with sales making up 66.1% of category trade.
  • Agriculture ran a large deficit, as imports accounted for 84.5% of trade and exceeded exports by ₦178bn.
  • Nigeria’s agricultural trade deficit widened sharply, from ₦59bn in Q1 to ₦119bn in Q2.

Nigeria's non-oil trade with Africa was close to balanced overall in the first half of 2026. Nigeria sold ₦1.03 trillion worth of non-oil products to the continent and bought ₦944 billion, leaving a surplus of just ₦88 billion on total trade of nearly ₦2 trillion.

But that overall balance varied sharply by product category. Energy trade excluding crude oil ran entirely in one direction, with Nigeria selling ₦156.5 billion to African countries and recording no purchases in the category.

Raw materials and manufactured goods were the closest to evenly balanced, with sales and purchases accounting for nearly equal shares of trade. Solid minerals leaned more towards sales, with Nigeria selling 66.1% of its trade in the category to Africa.

Agriculture moved in the opposite direction. Nigeria bought ₦217.7 billion worth of agricultural products from Africa while selling just ₦39.9 billion, meaning imports accounted for 84.5% of its agricultural trade with the continent. That left Nigeria with an agricultural trade deficit of about ₦178 billion in H1, with the gap widening from ₦59 billion in Q1 to ₦119 billion in Q2.

Source:

National Bureau of Statistics

Period:

H1 2026
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South Africa, Egypt and Morocco accounted for nearly 40% ($313b) of Africa’s merchandise imports in 2025
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