Manufactured goods imports hit N18 trillion as Nigeria’s import dependence grows

Nigeria’s imports of manufactured goods rose to N18 trillion in the first half of 2026, representing a 16.9% increase from the N15.40 trillion recorded in the corresponding period of 2025.

The increase was driven by a stronger second-quarter performance, with manufactured goods imports rising to N9.51 trillion from N8.48 trillion in Q1 2026, representing a 12.1% quarter-on-quarter increase.

The latest figure highlights the continued reliance of Nigerian businesses on imported manufactured products despite efforts to strengthen domestic production and reduce import dependence.

This is according to Nairametrics’ analysis of the Q1 and Q2 2026 Foreign Trade Statistics reports released by the National Bureau of Statistics (NBS).

What the data is saying

Manufactured goods imports stood at N9.51 trillion in Q2 2026, compared with N8.48 trillion in Q1, taking the H1 total to about N18 trillion.

• On a year-on-year basis, Q2 imports increased from N7.88 trillion in Q2 2025 to N9.51 trillion, representing a 20.7% rise.
• The Q1 figure also increased from N7.51 trillion in Q1 2025 to N8.48 trillion in Q1 2026, an increase of 13%.
• The stronger second-quarter growth therefore accounted for a significant portion of the overall expansion in manufactured goods imports during the first half of the year.

The trend suggests that demand for imported manufactured products remains strong, either because local producers are unable to meet certain categories of demand or because businesses continue to rely on imported inputs and finished products.

Get up to speed

The increase in imports comes against the backdrop of persistent financing and production challenges confronting Nigeria’s manufacturing sector.

• In June, the Manufacturers Association of Nigeria (MAN) raised concerns over a N1.92 trillion decline in bank credit to the sector, which fell from N8.53 trillion in December 2024 to N6.61 trillion in December 2025.
• The association also noted that borrowing costs remained elevated despite the Central Bank of Nigeria’s reduction of the Monetary Policy Rate to 26.5%. Average prime lending rates stood at about 27%, while maximum lending rates at some commercial banks reached 35.6%.
• Manufacturers have also warned that high production costs, elevated energy expenses, inflationary pressures and expensive credit continue to constrain the sector’s ability to achieve a sustained recovery.

These pressures can make locally manufactured goods more expensive to produce, potentially increasing businesses’ reliance on imported products where they are cheaper or more readily available.

What you should know

In June, Nairametrics reported that Nigeria’s manufacturing sector contributed N329.59 billion in Value Added Tax (VAT) revenue in the first quarter of 2026.

• According to the NBS, manufacturing contributed 9.57% to Nigeria’s real GDP in Q1 2026.
• Nigeria has continued to prioritise manufacturing as part of broader efforts to diversify the economy away from oil dependence.
• The sector remains one of the largest contributors to non-oil GDP and government tax revenue.

At the same time, the Federal Government is seeking to expand the market available to Nigerian manufacturers by encouraging businesses to participate more actively in regional trade.

In September, the government urged manufacturers to leverage the ECOWAS Trade Liberalisation Scheme (ETLS) to increase exports and gain access to markets across West Africa.