Nigeria’s export sector delivered a powerful start to 2026, with total shipments climbing to nearly $1 billion in the first quarter as non-oil trade gained fresh momentum. New figures released by the Nigeria Customs Service show stronger revenues, surging container traffic, and renewed confidence in export activity.
Total exports rose by 38.68% year-on-year to $925.84 million in Q1 2026, highlighting a significant boost for Africa’s largest economy as it pushes to reduce dependence on crude oil earnings. At the same time, container volumes almost doubled, jumping from 9,722 units in Q1 2025 to 19,014 units this year.
The sharp increase points to better logistics systems, improved port operations, and stronger demand for Nigerian goods in international markets. For years, exporters have battled congestion, delays, and infrastructure challenges. However, recent reforms now appear to be delivering measurable progress.
Monthly figures reveal that the quarter started cautiously before ending with explosive growth. January exports slipped slightly by 1.12% to $267.66 million. February then recovered with a 12.43% rise to $253.12 million. March changed the game completely.
Exports in March surged by 135.83% year-on-year to $425.48 million, compared with $171.76 million in March 2025. That dramatic leap became the main engine behind the quarter’s overall performance and raised optimism for the months ahead.
Revenue linked to export trade also moved higher. Export surcharge collections increased by 21.81%, rising from N163.66 million to N199.36 million. In addition, Nigerian Export Supervision Scheme collections advanced by 20.15%, climbing from N5.01 billion to N6.03 billion.
These gains suggest sectors outside oil are steadily expanding. Agriculture, manufacturing, and solid minerals are increasingly contributing to Nigeria’s foreign exchange earnings. If sustained, the trend could strengthen economic resilience and create wider employment opportunities.
The Nigeria Customs Service has also maintained strong revenue growth. In 2025, the agency generated N7.281 trillion, beating its N6.5 trillion target and outperforming the previous year’s collections. For 2026, authorities have now set an ambitious revenue target of N9 trillion.
Analysts say the strong first-quarter numbers offer hope, yet consistency remains critical. Stable exchange rates, reliable infrastructure, and uninterrupted policy reforms will determine whether Nigeria can maintain this pace throughout the year.
March’s export surge has created momentum. Now, investors and businesses will watch closely to see whether Nigeria can turn a strong quarter into a transformational year for trade.
