Nigeria’s trade momentum strengthened in the first quarter of 2026 as fresh data released by the Nigeria Customs Service on Sunday showed significant growth in export volumes, revenue collections, and cargo throughput.
The figures indicate a sharp rebound in non-oil trade, with exports rising by 38.68 per cent year-on-year to $925.84m in Q1 2026, compared to the corresponding period of 2025.
The Customs data also revealed that the number of export containers handled nearly doubled within the period, rising from 9,722 in Q1 2025 to 19,014 in Q1 2026, representing a 95.58 per cent increase.
Quoting directly from the report, the Service stated that “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 development points to a strengthening trade ecosystem and improved export logistics, driven by ongoing reforms in port operations and trade facilitation.
A breakdown of monthly export performance showed that while January 2026 recorded a slight dip of 1.12 per cent to $267.66m from $270.70m in 2025, exports rebounded in February, rising by 12.43 per cent to $253.12m.
However, the most significant jump occurred in March, where export value surged by 135.83 per cent year-on-year to $425.48m, up from $171.76m recorded in March 2025.
Highlighting this trend, the report noted that “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, the agency reported notable growth in collections tied to export-related charges.
According to the report, “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.”
The rise in these revenue streams is directly linked to increased export activity, suggesting that Nigeria’s non-oil export base may be gaining traction amid ongoing diversification efforts.
The data comes amid sustained government efforts to boost non-oil exports through policy reforms, improved port efficiency, and enhanced trade facilitation measures.
Similarly, the growth in container traffic is particularly significant, as it reflects increased utilisation of port infrastructure and improved cargo handling capacity.
The Nigeria Customs Service plays a central role in trade facilitation, revenue generation, and border security, with export-related collections forming a key component of its non-oil revenue streams.
In recent years, the Federal Government has intensified efforts to diversify the economy away from crude oil by promoting exports in agriculture, manufacturing, and solid minerals.
The latest Q1 2026 data suggests that these efforts may be beginning to yield measurable results, particularly as export volumes, revenues, and logistics indicators continue to trend upward.
With March’s exceptional performance setting the pace, stakeholders say sustaining the momentum through the rest of the year will be critical to consolidating gains in Nigeria’s trade sector.
Recall that the Service recorded a major revenue milestone in 2025, generating a total of N7.281tn, marking one of its strongest financial performances in recent years.
The revenue outturn exceeded the Service’s approved annual target of N6.5tn by N697bn, reflecting a positive variance of more than 10 per cent above expectations.
According to the Service, the revenue figure represents a growth of over 10 per cent above the target, and a year-on-year increase of about 19 per cent compared to the N6.1tn collected in 2024. It also has a revenue projection of about N9tn for the year 2026.
