By Elizabeth Adegbesan
Nigeria’s trade with other countries in the Economic Community of West African States, ECOWAS, by 43 percent, rose year-on-year (YoY) to N6.9 trillion in the first nine months of the year (9m’25) from N4.82 trillion in the corresponding period of 2024.
Analysis of data in the Foreign Trade in Goods Statistics Report recently released by the National Bureau of Statistics, NBS, showed that the significant growth in trade was as a result of a 37.6 per cent , YoY rise in exports to N6.14 trillion in 9m’25 from N4.46 trillion in 9m’24.
Similarly, imports grew sharply by 113.15 per cent YoY to N770.46 billion in 9m’25 from N361.46 billion in 9m’24.
Quarter-on-Quarter trend showed that Nigeria’s trade with ECOWAS rose by 82.6 percent QoQ to N2.32 trillion in the second quarter of 2025 (Q2’25) from N1.27 trillion in Q1’25. In Q3’25, trade rose by 43 percent QoQ to N3.32 trillion.
NBS said: “Exports to ECOWAS member states totaled N3.14 trillion while imports amounted to N179.26 billion.
“ Analysis by commodities showed that the main commodities exported to ECOWAS countries in Q3’25 were ‘Petroleum oils and oils obtained from bituminous minerals, crude.’ valued at N1.32 trillion or 42.14 percent, ‘Gas oil’ valued at N529.57 billion or 16.89 percent and Light vessels, fire floats, floating cranes, and other vessels worth N497.16 billion or 15.86 percent of total exports to ECOWAS countries.
“The top three exported products represent 74.89 percent of the total exports to the ECOWAS region.
“On the other hand, Nigeria’s imports from ECOWAS countries were mainly
‘Crude palm oil’ valued at N30.08 billion or 16.78 percent, ‘Petroleum bitumen’ valued at N22.68 billion or 12.65 percent, and ‘Extracts, essences and concentrates’ worth N3.03 billion or 1.69 percent of total imports from ECOWAS region.”
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