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By Daniel Adaji
Nigeria’s agricultural exports fell sharply to N786.62billion in the third quarter of 2025, while imports of farm produce climbed to N1.10 trillion.
This shows a widening gap in the country’s agricultural trade despite an overall positive merchandise trade balance.
Data obtained from the National Bureau of Statistics (NBS) by Pointblanknews.com on Monday show that the total value of agricultural goods traded in Q3 2025 stood at N1.90 trillion. Of this figure, exports accounted for N786.62 billion, reflecting an 11.69 per cent decline from N890.72 billion recorded in the corresponding quarter of 2024 and a steeper 37.39 per cent drop from N1.26 trillion in Q2 2025.
The decline came even as cocoa-related products continued to dominate Nigeria’s farm exports. ‘Standard quality cocoa beans’ led the export basket with N254.13 billion, followed by ‘Superior quality cocoa beans’ valued at N193.96 billion and ‘Natural cocoa butter’ at N87.82 billion. Other major export items included ‘Cashew nuts in shell’ worth N58.80 billion and ‘Sesamum seeds’ valued at N48.79 billion.
Europe remained the leading destination for Nigeria’s agricultural exports in the quarter, accounting for N444.22 billion, while Asia followed with N246.24 billion. A further breakdown showed that ‘Standard quality cocoa beans’ worth N108.27 billion and N67.68 billion were exported to Belgium and The Netherlands, respectively.
Similarly, ‘Superior quality cocoa beans’ valued at N79.32 billion and N33.36 billion were shipped to The Netherlands and Malaysia, while ‘Natural cocoa butter’ worth N79.00 billion and N6.98 billion went to Germany and The Netherlands.
On the import side, total agricultural goods imported in Q3 2025 stood at N1.10 trillion, representing 5.77 per cent of Nigeria’s total imports. This marked a 25.03 per cent increase compared to N882.24 billion recorded in Q3 2024, although it declined by 6.87 per cent from N1.18 trillion in Q2 2025.
Major agricultural imports during the period included ‘Durum wheat’ sourced mainly from the United States of America and Russia, valued at N164.39 billion and N100.61 billion, respectively. This was followed by ‘Jack and horse mackerel (Trachurus spp.) meat, frozen,’ imported from Chile and the Faroes Islands at ₦60.60 billion and N6.50 billion, as well as ‘Crude palm oil’ valued at N21.80 billion from Malaysia.
Beyond agriculture, the NBS data showed that Nigeria recorded steady growth in its overall external merchandise trade in Q3 2025. Total imports rose to N16.12 trillion, representing a 5.51 per cent increase from N15.28 trillion in the same quarter of 2024 and a 5.47 per cent rise from N15.29 trillion in Q2 2025.
China remained Nigeria’s largest source of imports during the quarter, followed by the United States, India, the United Arab Emirates and Belgium. Key imported commodities included petroleum oils and oils obtained from bituminous minerals (crude), gas oil, motor spirit (ordinary), durum wheat and cane sugar meant for sugar refinery.
In the same quarter, the value of imported raw material goods stood at N2.02 trillion, up 27.70 per cent from N1.58 trillion in Q3 2024 and 17.32 per cent higher than N1.72 trillion recorded in Q2 2025. Solid mineral imports were valued at N75.49 billion, representing an 18.82 per cent decline year-on-year but a 6.50 per cent increase quarter-on-quarter.
Imported manufactured goods rose to N7.77 trillion, reflecting an 11.28 per cent increase from N6.98 trillion in Q3 2024, though slightly lower than N7.88 trillion recorded in Q2 2025. Other oil product imports dropped sharply to N2.75 trillion, a 52.05 per cent decline from N5.74 trillion in Q3 2024.
On the export side, total exports in Q3 2025 were valued at N22.81 trillion, representing an 11.08 per cent increase compared to N20.54 trillion in the corresponding quarter of 2024 and a marginal 0.28 per cent rise from N22.75 trillion in Q2 2025.
Nigeria’s top five export destinations during the period were India, Spain, France, The Netherlands and Italy, with crude oil, natural gas, other petroleum gases in a gaseous state, kerosine-type jet fuel and urea dominating the export mix.
Agricultural exports, however, lagged behind, accounting for N786.62 billion and confirming declines both year-on-year and quarter-on-quarter. By contrast, raw material exports surged to N1.04 trillion, up 136.38 per cent from N439.82 billion in Q3 2024 and 26.83 per cent higher than N819.72 billion in Q2 2025. Solid mineral exports also increased to N100.81 billion, while manufactured goods exports stood at N978.53 billion, lower than N1.04 trillion recorded a year earlier but higher than N803.81 billion in the preceding quarter.
Crude oil remained Nigeria’s dominant export commodity in Q3 2025, valued at N12.81 trillion and accounting for 56.14 per cent of total exports. Although this represented a 4.47 per cent decline from N13.41 trillion in Q3 2024, it was a 7.03 per cent increase from N11.97 trillion recorded in Q2 2025. Other oil product exports rose to N7.01 trillion, marking a 51.72 per cent increase year-on-year, despite a quarter-on-quarter decline.
Nigeria’s total merchandise trade stood at N38.94 trillion in Q3 2025, an 8.71 per cent increase over N35.82 trillion recorded in the corresponding period of 2024 and a 2.36 per cent rise from N38.04 trillion in Q2 2025. Exports accounted for 58.59 per cent of total trade, while imports made up 41.41 per cent.
The country maintained a positive merchandise trade balance of N6.69 trillion in the quarter, although this represented a 10.36 per cent decline compared to the preceding quarter, highlighting the pressure from rising imports, particularly in the agricultural sector.
Why this matters
The widening gap between agricultural exports and imports matters for Nigeria’s foreign exchange position and food security outlook. While farm exports remain a critical source of non-oil foreign earnings, the sharp quarter-on-quarter drop in export value suggests increased vulnerability to price swings, production constraints and logistics challenges in the agricultural value chain.
Rising agricultural imports, particularly staples such as wheat, fish and palm oil, also underscore Nigeria’s continued dependence on foreign food supplies. This trend places additional pressure on foreign exchange demand at a time when policymakers are seeking to conserve reserves and stabilise the naira through import substitution and export diversification.
The figures further highlight structural weaknesses in agro-processing and value addition. Although cocoa products continue to dominate exports, Nigeria largely ships raw or minimally processed commodities, limiting earnings potential and exposing export revenues to fluctuations in global commodity prices.
For the broader economy, the contrast between declining farm exports and strong overall merchandise trade performance reinforces the dominance of oil and gas in sustaining Nigeria’s trade surplus. With crude oil accounting for more than half of total exports in Q3 2025, agriculture’s reduced contribution raises questions about the pace of progress in diversifying export revenues away from hydrocarbons.
At a policy level, the data adds urgency to ongoing efforts to boost agricultural productivity, expand local processing capacity and improve access to export markets. Without sustained gains in farm output and competitiveness, Nigeria risks deeper exposure to imported food inflation, even as it records headline growth in total trade.