Nigeria’s trade sector contributed 17.89% to the country’s Gross Domestic Product in the first quarter of 2026, according to new data from the National Bureau of Statistics. Although slightly below the 18.21% recorded a year earlier, the figure highlights the sector’s continued importance to Africa’s largest economy. The sector posted real year-on-year growth of 2.08%, while nominal growth surged 38.15% over the same period, reflecting inflationary pressures and higher transaction values. However, quarter-on-quarter growth fell by 14.85%, signaling weaker trading conditions compared with late 2025. Nigeria’s overall economy expanded by 3.89% year-on-year during the period, with nominal GDP reaching about $69.2 billion. Trade remains central to employment, distribution, and non-oil economic activity nationwide. The latest figures come after Nigeria recorded a trade surplus of roughly $1.1 billion in the fourth quarter of 2025 despite declining export volumes.
Nairametrics
