Nigeria’s Exports To US Plunge By N940.98bn Amid Rising Tariffs, Weak Demand

Nigeria’s exports to the United States fell sharply by N940.98 billion in the first nine months of 2025, highlighting a growing strain in bilateral trade as US tariffs and tougher market conditions weighed on Nigerian shipments, according to data from the National Bureau of Statistics (NBS).

Analysis of the NBS foreign trade statistics revealed that Nigeria exported goods worth N3.65 trillion to the US between January and September 2025, a decrease from N4.59 trillion in the same period in 2024, representing a 20.5% decline.

The drop reflects weakening demand for Nigerian goods amid tariff-related headwinds.
The export contraction coincides with Washington’s implementation of a “reciprocal” tariff regime, under which US President Donald Trump raised Nigeria’s tariff rate from 14% to 15% effective August 7, 2025.

While crude oil exports were largely exempt, the higher duty applied to a broad range of non-oil Nigerian goods, increasing costs for US importers and dampening demand.

The nine-month figures underscore the reversal in Nigeria–US trade relations. In the first nine months of 2024, Nigeria exported N4.59 trillion and imported N3.01 trillion, resulting in a trade surplus of N1.57 trillion.

By the same period in 2025, exports had fallen to N3.65 trillion while imports surged to N6.80 trillion, pushing the trade balance into a deficit of about N3.15 trillion.

Quarterly data showed that exports opened 2025 strongly at N1.54 trillion in Q1, before declining to N1.36 trillion in Q2 and plunging to N743.63 billion in Q3, a 45.3% quarter-on-quarter contraction, the steepest during the period.

Imports moved in the opposite direction, rising from N1.42 trillion in Q1 to N2.16 trillion in Q2 and N3.22 trillion in Q3, intensifying pressure on Nigeria’s trade position.

Year-on-year comparisons showed exports to the US grew by 17.7% in Q1 2025 compared with the same period in 2024 but fell by 14.3% in Q2 and plunged 56.0% in Q3, reflecting weaker demand and tougher trade conditions.

The sharp contraction contributed to the United States dropping out of Nigeria’s top five export destinations by Q2 and Q3 2025, despite remaining a major source of imports.

Product-level data revealed that in Q1 2025, Nigeria’s exports to the US were led by crude petroleum oils valued at N779.38 billion, followed by urea at N240.17 billion and kerosene-type jet fuel at N214.30 billion.

Other exports included petroleum gases in a gaseous state at N95.97 billion and standard-quality cocoa beans at N58.84 billion.

By Q3 2025, Nigeria’s export basket to the US had narrowed significantly, consisting mainly of lower-value items such as soya bean flours and meals worth N23.60 billion, cocoa powder preparations at N36.83 million, and technically specified natural rubber at N5.03 billion, highlighting the steep impact of tariffs and weakening US demand on Nigeria’s non-oil exports.