Nigeria’s crude oil exports generated approximately ₦12.81 trillion in the third quarter of 2025, data from the National Bureau of Statistics (NBS) reveal. Crude oil accounted for over half of the country’s total exports during the period, highlighting the continued dominance of petroleum in Nigeria’s foreign trade.

Compared with the same period in 2024, crude oil export earnings fell by 4.47 per cent from ₦13.41 trillion. However, the figure rose 7.03 per cent from the ₦11.97 trillion recorded in the previous quarter, signaling a gradual recovery in oil revenue.

The broader mineral products sector, which includes crude oil and petroleum gases, contributed ₦20.01 trillion to total exports, representing 87.71 per cent of all exports in Q3 2025. Other oil-related products added ₦7.01 trillion, marking a sharp 51.72 per cent increase from Q3 2024, though slightly lower than the ₦7.74 trillion posted in Q2 2025.

Overall, Nigeria’s merchandise trade reached ₦38.94 trillion during the quarter, an 8.71 per cent increase compared with the same period last year and a 2.36 per cent rise from Q2 2025. Exports totaled ₦22.81 trillion, while imports stood at ₦16.12 trillion, leaving a positive trade balance of ₦6.69 trillion, despite a 10.36 per cent decline from the previous quarter.

Natural gas, other petroleum gases, and refined petroleum products, such as kerosene-type jet fuel, remained key exports, helping to offset weaker performances in agriculture and some manufactured goods. Non-oil exports continued to struggle, with agricultural products declining 11.69 per cent to ₦786.62 billion and manufactured goods falling 6.03 per cent to ₦978.53 billion.

Europe remained the largest destination for Nigerian exports, receiving goods worth ₦8.71 trillion (38.16 per cent of total exports), followed by Asia at ₦6.40 trillion (28.07 per cent) and Africa at ₦4.90 trillion (21.49 per cent). India emerged as the top single export market with imports valued at ₦2.26 trillion, followed by Spain, France, the Netherlands, and Italy, which together accounted for nearly 40 per cent of total exports.

Nigeria’s oil influence was particularly strong in trade with Africa and the ECOWAS region. Exports to the continent reached ₦4.90 trillion, dominated by crude petroleum oils worth ₦1.94 trillion, motor spirit at ₦707.05 billion, and gas oil at ₦692.08 billion. Within ECOWAS, crude oil alone accounted for ₦1.32 trillion, representing 42.14 per cent of total regional exports.