In keeping with the Nationwide Bureau of Statistics (NBS), Nigeria recorded complete exports of $38.93 billion, greater than its imports of $24.62 billion. Consequently, the West African nation had a commerce surplus of $14.31 billion in 2024. Africa led Nigeria’s export markets with $5.72 billion in exports, overtaking Europe and Asia for the primary time. Spain adopted with $5.32 billion, whereas France and the Netherlands recorded $4.56 billion and $4.54 billion, respectively. Key African patrons included South Africa ($498.98 million), Ivory Coast ($495.33 million), and Senegal ($155.12 million). Petroleum merchandise dominated exports, accounting for practically 80% of Africa-bound shipments. The surge highlights Nigeria’s rising affect in intra-African commerce, bolstered by the African Continental Free Commerce Space (AfCFTA).
Supply: Nairametrics
