Nigeria may have kicked off 2025 with a headline trade surplus of $1.5 billion in the first two months of the year, but a closer look at the data reveals a more complex picture.
While declining fuel imports and a modest rise in non-oil exports are encouraging signs of diversification, the country’s export earnings remain tethered to the fluctuating price of crude oil.
February's surplus widened slightly to $780 million, according to CBN data, despite subdued trade activity, but analysts warn that
Nigeria may have kicked off 2025 with a headline trade surplus of $1.5 billion in the first two months of the year, but a closer look at the data reveals a more complex picture.
While declining fuel imports and a modest rise in non-oil exports are encouraging signs of diversification, the country’s export earnings remain tethered to the fluctuating price of crude oil.
February's surplus widened slightly to $780 million, according to CBN data, despite subdued trade activity, but analysts warn that
