Nigeria’s exports to the Economic Community of West African States (ECOWAS) surged to N1.54 trillion in the third quarter of 2024, according to the National Bureau of Statistics (NBS). The country’s imports from ECOWAS were significantly lower, totaling just N82 billion. Ivory Coast was the largest recipient of Nigerian goods, importing N662.71 billion, followed by Togo with N574.93 billion, together accounting for 97.6% of Nigeria’s total exports to the region.
The bulk of Nigeria’s exports to ECOWAS consisted of petroleum oils and oils derived from bituminous minerals, valued at N1.29 trillion, making up 83.45% of the total export value. Other notable exports included electrical energy at N59.69 billion (3.87%) and liquefied petroleum gases at N35.84 billion (2.33%). Additionally, cocoa beans were among the exported commodities, with Nigeria sending both superior and standard quality beans to the region.
On the import side, Nigeria’s major trading partners within ECOWAS were Ivory Coast, Ghana, Togo, Niger, and Benin, which together made up 87% of Nigeria’s total imports from the region. The primary imports included petroleum bitumen, aviation spirit, and cocoa powder, highlighting the region’s role in supplying key commodities to Nigeria.
