Nigeria’s crude oil exports plunged by N3.18 trillion in the first half of 2025, underlining the country’s continued struggles with output levels and global market shifts.
The United States swung into a $576 million trade surplus with Nigeria in the first half of 2025, reversing a deficit of $779 million in the same period of 2024.
Nigeria has witnessed a major shift in its trade dynamics, with Africa emerging as the country’s largest export destination in 2024.
Nigeria recorded a current account surplus of $5.14 billion, or 11.46% of GDP, in Q2 2024, representing a significant improvement from the $3.38 billion (7.35% of GDP) surplus reported in the previous quarter.
Advocates of weaker currencies, love to sing the praises of a floundering local currency.
