Nigeria recorded a trade surplus of N6.69 trillion in the third quarter of 2025, continuing its positive trade performance, which reflects the effects of recent economic reforms, especially in the foreign exchange market.

Data released by the National Bureau of Statistics (NBS) indicates that total exports for Q3 2025 reached N22.81 trillion, while imports were valued at N16.12 trillion. This results in a trade surplus of N6.69 trillion, showing a 27.29% increase compared to the N5.26 trillion surplus recorded in Q3 2024. However, this surplus is 10.36% lower than the N7.46 trillion surplus reported in Q2 2025.

Economists and private-sector stakeholders have shared with The PUNCH that the strong performance is attributable to ongoing foreign exchange reforms, trade liberalization, and currency adjustments that have enhanced export competitiveness and fostered local production.

Dr. Muda Yusuf, the Director of the Centre for the Promotion of Private Enterprise, noted that these reforms significantly strengthened Nigeria's export base. He added that the depreciation of the naira has made imports more expensive, prompting businesses and consumers to turn to local products.

Yusuf also pointed out a rise in backward integration, where more firms are increasingly relying on local inputs instead of imported resources. Despite facing temporary challenges in agriculture and manufacturing due to issues such as insecurity, logistics difficulties, and new policies like the 30% local value-addition requirement for shea exports, he emphasized that Nigeria remains on a positive trajectory.

The performance in Q3 2025 suggests that the country's economic reform efforts are transforming trade patterns, bolstering local production, and improving external balances.