Follow Us on Google
From Isaac Anumihe, Abuja
National Bureau of Statistics (NBS), today, said that the value of total imports stood at ₦13,619.33 billion in the first quarter of 2026, representing a 18.17 per cent decrease from the value recorded in the corresponding quarter of 2025 (₦16,644.42 billion) and a 21.05 per cent decrease compared to the value recorded in Q4 2025 (₦17,250.93 billion).
This is as China remained the leading source of imports in the first quarter of 2026, followed by the United States of America, India, Germany, and the United Arab Emirates.
The bureau added that the most imported commodities during the quarter were petroleum oils and oils obtained from bituminous minerals (crude), gas oil, durum wheat, machines for the reception, conversion, and transmission of voice, images, or data, and used vehicles with diesel or semi-diesel engines.
Other News
Meanwhile, NBS noted that the value of agricultural goods imported in Q1 2026 stood at
₦827.72 billion, representing a 20.09 per cent decrease compared to N1,035.81billion recorded in Q1 2025, and a 42.39 per cent decrease relative to
₦1,436.65 billion recorded in Q4 2025.
Also, in the same period, the import value of raw material goods was
₦1,582.36 billion, representing a 12.63 per cent decrease from ₦1,811.10 billion in
Q1 2025, and a 32.72 per cent decrease compared to ₦2,351.88 billion in the preceding quarter (Q4 2025). But in the first quarter of 2026, solid mineral imports were valued at N69.75 billion, representing a 24.00 per cent decrease from ₦91.78 billion in Q1 2025 and 50.53 per cent decrease compared to ₦140.99 billion recorded in Q4 2025.
Conversely, in the same period, the value of imported manufactured goods stood at N8,484.37 billion, reflecting a 12.94 per cent increase from ₦7,512.22 billion in Q1
2025, and a 3.62 per cent decrease from ₦8,803.27 billion recorded in Q4 2025.
“The value of other oil products imported in Q1 2026 stood at ₦748.10 billion, reflecting a 85.05 per cent decrease from ₦5,005.22 billion in Q1 2025 and a
81.38 per cent decrease from ₦4,018.31 billion recorded in Q4 2025” NBS said.
On the export side, the total exports in Q1 2026 were valued at ₦21,169.27 billion, reflecting a 2.77 per cent increase compared with ₦20,598.48 billion in the corresponding quarter of
2025, and an 11.63 per cent increase compared with ₦18,963.41 billion in Q4 2025.
However, in the Q1 2026, Nigeria’s top five trading export partners were India, France, The Netherlands, Spain, and The United States of America and the most
exported commodities were crude oil, natural gas, urea, whether or not in aqueous solution; other petroleum gases in a gaseous state, and kerosine
type jet fuel.
According to NBS, exports of agricultural goods in the period under review amounted to
₦1,172.37 billion representing a 31.20 per cent decline from ₦1,704.15 billion in Q1
2025 and an 11.39 per cent decrease from ₦1,323.06 billion in Q4 2025.
“In the same period, the value of raw material exports stood at
₦1,533.75 billion, representing a rise of 46.83 per cent from ₦1,044.59 billion in Q1
2025 and a 28.62 per cent increase from ₦1,192.49 billion in Q4 2025” the document from NBS website, noted.
Analysis, the bureau, explained, shows that solid mineral exports in Q1 2026 were valued at
₦102.80 billion; representing a 74.63 per cent increase from ₦58.87 billion in Q1 2025
and a decrease of 12.02 per cent from ₦116.84 billion in Q4 2025.
“The value of manufactured goods exports in Q1 2026 stood at
₦302.64 billion, reflecting a 2.79 per cent increase from ₦294.43 billion in Q1 2025 and a decrease of 28.53 per cent from ₦423.43 billion in Q4 2025.
“Crude oil exports in Q1 2026 were valued at ₦11,202.35 billion; the value decreased by 13.53 per cent from ₦12,955.03 billion in Q1 2025 and increased by 15.45 per cent from ₦9,702.87 billion in Q4 2025.
“Other oil product exports in Q1 2026 stood at ₦6,780.18 billion, showing an increase of 51.49 per cent from ₦4,475.58 billion in Q1 2025 and an increase of
10.88 per cent from ₦6,115.00 billion in Q4 2025” the bureau, further explained. ENDS
