From Our Correspondent
Abuja, Sept. 25,’25 (TNZ) The Tinubu Stakeholders Forum (TSF) has welcomed Nigeria’s strong trade performance in the second quarter of 2025, recording a trade surplus of ₦7.46 trillion
TheNewsZenith reports that TSF gave the cheering remarks in a statement, quoting the latest data from the National Bureau of Statistics (NBS).
The Forum’s Chairman, Ahmad Sajoh, and Secretary, Danjuma Sada, noted that the new figure represents a 44.3 per cent increase from ₦5.17 trillion in the first quarter.
“This significant rise in trade balance is one of the clearest signs that President Bola Tinubu’s reforms are reshaping the Nigerian economy.
“The surplus reflects an important shift in Nigeria’s trade structure.
“While crude oil remains the single largest export commodity, the steady growth of non-oil exports shows that the economy is shifting from overdependence on a single resource.
“NBS data showed that manufactured goods surged to ₦803.8 billion in the second quarter, representing a 173 per cent increase from Q1.
“Also, solid minerals expanded by 31 per cent, while cement clinkers and mineral substances led the charge. Petroleum by-products beyond crude oil also recorded stronger demand.
“Together, these figures point to a slow but steady rebalancing of the economy, where multiple sectors are beginning to earn foreign exchange.
“In 2021, the country posted a half-year trade deficit of about ₦1.56 trillion, and between 2020 and 2023, surpluses remained weak and inconsistent.
“However, the picture has changed dramatically since 2024, as the half-year trade balance surged to over ₦8 trillion.
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“This is followed by an even stronger ₦12.64 trillion surplus in the first half of 2025.
“The turnaround demonstrates that Nigeria has moved from unstable trade positions to robust surplus.
“All these are driven by reforms that are expanding the export base and strengthening the economy.
“By our reckoning, the devaluation of the naira has improved Nigeria’s external competitiveness.
“It has also created new opportunities for local manufacturers and agro-processors to expand into regional and global markets,” TheNewsZenith quotes the forum as stating.
TSF further observed that the growth in trade surplus has strong implications for Nigeria’s participation in the African Continental Free Trade Area (AfCFTA).
“With markets across Africa gradually opening under AfCFTA protocols, Nigeria is now better positioned as an intra-African trade hub.
“Rising exports in manufactured goods, value-added petroleum products, and solid minerals will enable Nigeria to reduce its trade deficits.
“This is, as some African partners expand market share in key economies, and stimulate job creation at home.
“We are confident that Nigeria will record even higher growth in succeeding quarters due to government initiatives and reforms already being implemented,” it stated. (TNZ)
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