Nigeria’s trade with fellow Economic Community of West African States (ECOWAS) countries recorded a remarkable 43 percent increase year-on-year (YoY), reaching N6.9 trillion in the first nine months of 2025, up from N4.82 trillion in the same period of 2024. The surge underscores Nigeria’s growing economic engagement within the West African region and highlights the potential of regional trade partnerships.
Data from the National Bureau of Statistics’ (NBS) Foreign Trade in Goods Statistics Report revealed that exports were the primary driver of this growth. Nigerian exports to ECOWAS member states rose by 37.6 percent YoY to N6.14 trillion in 2025, compared to N4.46 trillion in 2024. Meanwhile, imports from the region surged by 113.15 percent YoY to N770.46 billion, up from N361.46 billion in the corresponding period last year.
Quarter-on-quarter (QoQ) trends also reflect robust trade activity. Nigeria’s trade with ECOWAS grew by 82.6 percent QoQ in the second quarter of 2025, reaching N2.32 trillion from N1.27 trillion in Q1. In the third quarter, trade continued its upward trajectory, rising 43 percent QoQ to N3.32 trillion, signaling consistent regional economic engagement.
The NBS report highlighted that petroleum-related products dominated exports. In Q3 2025, crude petroleum oils accounted for N1.32 trillion (42.14 percent) of total exports, followed by gas oil at N529.57 billion (16.89 percent) and light vessels, fire floats, and floating cranes at N497.16 billion (15.86 percent). Collectively, these three commodities represented nearly 75 percent of Nigeria’s exports to the ECOWAS region.
On the import side, Nigeria’s purchases from ECOWAS were led by crude palm oil valued at N30.08 billion (16.78 percent), petroleum bitumen at N22.68 billion (12.65 percent), and extracts, essences, and concentrates at N3.03 billion (1.69 percent). The data reflects a growing two-way trade relationship and highlights key commodities shaping Nigeria’s economic ties with its West African neighbors.
source: vanguard