Nigeria’s trade surplus has climbed to 6% of the nation’s Gross Domestic Product (GDP), a development attributed to the Federal Government’s sound macroeconomic policies, according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso.
Cardoso made this known during the G-24 press briefing on the sidelines of the IMF/World Bank Annual Meetings in Washington, D.C., where he stood in for the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who is the first Vice Chair of the G24.
A statement released by the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga, confirmed the announcement and highlighted Nigeria’s growing economic strength in the global arena.
At the meeting, Cardoso emphasized that Nigeria’s economy has remained resilient despite global uncertainties, crediting the progress to the implementation of strong fiscal and monetary measures that have improved trade performance.
Manga’s statement read: “As the world watches, Nigeria’s economic prospects are shining brighter. The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, joined the CBN Governor as part of the Nigerian delegation at the G24 meetings, where discussions focused on domestic resource mobilization, inflation, and sound macroeconomic policies.”
Cardoso noted that Nigeria’s improved balance of trade reflects disciplined economic management and a focus on policies that stimulate growth and control inflation. He further disclosed that the CBN is developing a new framework for currency swaps with other countries to ensure mutual economic benefit.
He added that the ongoing restructuring of Nigeria’s economy is encouraging domestic production while discouraging excessive importation due to a more competitive currency regime.
Dr. Uzoka-Anite’s participation at the G24 meetings underscores the government’s commitment to fostering international financial partnerships aimed at driving sustainable growth. According to the Ministry, Nigeria’s engagement with global institutions remains a strategic step toward enhancing economic stability and development.
Meanwhile, data from the National Bureau of Statistics (NBS) showed that Nigeria’s trade surplus increased by 44% in Q2 2025. The nation’s total merchandise trade stood at N38.04 trillion up by 20.05% from N31.68 trillion in Q2 2024. Exports accounted for 59.81% of the total, valued at N22.75 trillion, with crude oil contributing N11.97 trillion (52.6%) and non-crude exports making up 47.4%.
Imports, on the other hand, represented 40.19% of total trade at N15.29 trillion, a 9.43% increase from the same period in 2024.
This improvement in Nigeria’s trade performance signals steady progress in the country’s economic recovery and a positive outlook for future growth, according to a 9am News report.
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