President Bola Ahmed Tinubu has announced that Nigeria has recorded a trade surplus for five consecutive quarters, officially becoming a net exporter.
He made the declaration on Wednesday during a nationwide broadcast to mark the country’s 65th Independence anniversary.
Highlighting what he described as a fundamental economic shift, the President stated that Nigeria is now exporting more than it imports, a development that is bolstering the naira, generating employment, and reducing the country’s reliance on oil.
“We are now a Net Exporter: Nigeria has recorded a trade surplus for five consecutive quarters. We are now selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home,” Tinubu said.
He noted that in the second quarter of 2025, Nigeria’s trade surplus rose by 44.3% to ₦7.46 trillion ($4.74 billion), the highest in nearly three years. The President also revealed a 173% increase in the export of locally manufactured goods, with non-oil exports now contributing 48% of total export earnings—just shy of the 52% accounted for by oil. “This signals that we are diversifying our economy and foreign exchange sources outside oil and gas,” he added.
Tinubu credited the positive trade data to the economic reforms introduced under his administration, calling the figures evidence that the policies are beginning to deliver concrete results.
In addition to reporting economic gains, the President urged Nigerians to support local industries and prioritise homegrown products. He said government efforts to stabilise the economy and improve infrastructure must be complemented by consumer choices that promote national development.
“Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes,” Tinubu stated.
He maintained that placing Nigeria first in everyday decisions would help accelerate the country’s growth trajectory and ensure a more secure and sustainable future.
