Nigeria’s trade performance recorded a significant upswing in the first quarter of 2026, as new data from the Nigeria Customs Service showed strong growth in export earnings, cargo movement, and revenue collections.

The figures indicate a notable rebound in non-oil trade, with export value rising by 38.68 per cent year-on-year to $925.84m in Q1 2026, compared to the corresponding period in 2025.

According to the report, export logistics also improved significantly, with container throughput almost doubling within the review period.

“exports processed in Q1 2026 stood at $925.84m, representing a 38.68 per cent increase compared to Q1 2025, while total containers handled rose to 19,014 from 9,722, indicating a 95.58 per cent growth.”

The data suggests a strengthening trade environment, supported by ongoing reforms in port operations, customs procedures, and broader trade facilitation measures.

A monthly breakdown of performance showed mixed but ultimately strong growth. January recorded a slight decline of 1.12 per cent to $267.66m from $270.70m in 2025. However, February rebounded with a 12.43 per cent increase to $253.12m, while March delivered a sharp surge.

“March 2026 recorded the highest export performance within the quarter at $425.48m, reflecting a 135.83 per cent increase year-on-year and driving the overall quarterly growth.”

On the revenue side, export-related collections also improved. The report stated that “export surcharge collections increased from N163.66m in Q1 2025 to N199.36m in Q1 2026, representing a growth of 21.81 per cent, while NESS collections rose from N5.01bn to N6.03bn, indicating a 20.15 per cent increase.”

Analysts say the rise reflects increased export activity and gradual strengthening of Nigeria’s non-oil revenue base, particularly in agriculture and manufactured goods, as the country continues its diversification push away from crude oil dependence.

The Customs Service, which plays a central role in revenue generation and trade regulation, also recorded a strong performance in 2025, generating N7.281tn—above its approved target of N6.5tn by N697bn.

That figure represented a year-on-year increase of about 19 per cent compared to N6.1tn collected in 2024, with projections placing 2026 revenue at about N9tn.

While the Q1 2026 performance signals improved trade efficiency and export expansion, stakeholders note that sustaining the momentum will depend on continued infrastructure upgrades, policy consistency, and improved access to export markets.