Trade - Intelpoint

Nigeria imported ₦305.69bn from Libya in Q2 2026, up from ₦2.17bn in Q1.
Crude oil accounted for 99.99% of Q2 imports, worth ₦305.66bn.
Libya’s Q2 exports to Nigeria surged from ₦7.4bn in 2025 to ₦305.69bn.
Libya became Nigeria’s ninth-largest import source, accounting for 2.12% of total imports in Q2.
Nigeria’s imports from Libya were previously dominated by much smaller values, with crude oil driving the sharp 2026 increase.

Nigeria has exported more to South Africa than it has imported every year since 2002.
Exports peaked at $6.29 billion in 2014, driven almost entirely by mineral fuels.
Imports from South Africa have remained below $1 billion annually.
Nigeria recorded a $1.27 billion trade surplus with South Africa in 2025.
Mineral fuels made up over 95% of Nigeria's exports throughout 1995-2025.

South Africa led with $8.52 billion, only $140 million ahead of Morocco.
Morocco’s imports have grown steadily, while South Africa’s 2025 figure was a recovery toward its 2012 peak.
Egypt ranked third, followed by Algeria and Nigeria.
The top 10 markets accounted for 67.1% of Africa’s $56.48 billion total.
Road vehicle imports include vehicles, parts, motorcycles, trailers, and semi-trailers.

Africa imported merchandise worth $788.9 billion in 2025, representing about 3% of global merchandise imports.
South Africa was Africa’s largest merchandise importer, with imports valued at $128.1 billion.
Egypt ranked second at $97.5 billion, followed by Morocco at $87.4 billion.
The three largest importers accounted for $313 billion, or 39.7% of Africa’s total merchandise imports.
South Africa alone accounted for about 16.2% of the continental total.
The five largest importers, including Algeria and Nigeria, were responsible for $404.6 billion, or 51.3% of Africa’s imports.
Nigeria ranked fifth, with merchandise imports valued at $41.5 billion.

China has dominated Nigeria’s imports from Asia, maintaining a 50–55% share for most of the period.
China’s share reached its highest level at 58.6% in H1 2025.
India's import share remained volatile, ranging between 11% and 25%.
Total imports from Asia surged from ₦2.6 trillion in 2013 to ₦16.4 trillion in H1 2025.

Agricultural imports fell from 83.9% in 2017 to 42.9% in H1 2025, indicating a significant decline in import dependency.
Agricultural exports grew from 16.1% in 2017 to 54.0% in 2024, surpassing imports for the first time since 2017.
Total agricultural trade increased from ₦1.1 trillion in 2017 to ₦8.2 trillion in 2024.
Between 2022 and 2024, the import share dropped significantly from 75.7% to 46.0%.

Crude oil imports into Nigeria in H1 2025 marked the first occurrence since 2017.
Crude oil imports accounted for 10.2% of total crude oil trade.
From 2017 to 2024, exports made up 100% of crude oil trade annually.
Total crude oil trade peaked at ₦55.3 trillion in 2024.
The emergence of crude oil imports can be linked to domestic refinery operations, especially the Dangote Refinery.

Asia and Europe have consistently represented over 70% of Nigeria’s imports since 2013.
Asia’s share of imports reached a record 53.5% in H1 2025.
Europe contributed 23.1% of total imports in H1 2025.
Imports from the American region averaged between 10%–14% over the period.
Africa’s import share remained below 10%, showing limited regional trade.

The Netherlands has mostly been the top European import source, with Nigeria averaging 20% of annual imports from the region.
Netherlands' highest share of Nigeria's imports was 27.9% in 2018.
The United Kingdom consistently contributed around 5–15% of Nigeria’s European imports.
Germany’s share remained relatively stable at 5–10% over the years.
France, Italy, and Spain maintained smaller shares, mostly under 7%.

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