Nigeria's energy goods imports have stayed low and stable for 7 years, while exports increased from ₦37B to ₦263B

Nigeria’s energy goods exports rose from ₦37.3B in 2017 to ₦262.9B in 2024, before falling to ₦154.2B in H1 2025.
Imports remained consistently low, ranging from ₦24.2M to ₦353.1M throughout the period.
Export growth outpaced imports, showing a widening trade surplus in energy goods.
The 2024 spike in exports represents the highest export value within the nine-year window.
Energy imports stayed below ₦400M yearly, indicating low dependency on foreign energy goods.

Nigeria’s exports of energy goods have surged dramatically, while imports have remained relatively low and stable. From 2017 to 2025, energy goods exports grew from ₦37 billion to ₦263 billion, signalling a stronger global demand for Nigeria’s energy exports and improved trade performance in the sector. In contrast, imports have fluctuated within a narrow range, staying below ₦400 million yearly, indicating limited dependency on external energy goods.

Source:

National Bureau of Statistics

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Period:

2017 - H1 2025

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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.

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Nigeria's manufactured goods trade is overwhelmingly import-dependent, with imports consistently exceeding 85% since 2017

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In H1 2025, imports accounted for 93.3% of the total ₦16.5 trillion trade.
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