President Bola Ahmed Tinubu has declared that Nigeria has become a net exporter, recording a trade surplus for five consecutive quarters.
In his nationwide broadcast to mark the country’s 65th independence anniversary on Wednesday, Tinubu said the shift reflects a fundamental change in the economy, with Nigeria now selling more to the global market than it imports.
He explained that this development is strengthening the naira, creating jobs locally, and signalling the diversification of the economy away from oil dependence.
According to the president, manufactured goods exported from Nigeria have increased significantly, while non-oil exports now account for nearly half of the country’s total trade earnings.
He described the trend as evidence that the reforms undertaken by his administration are beginning to yield tangible results.
He said, “We are now a Net Exporter: Nigeria has recorded a trade surplus for five consecutive quarters. We are now selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home.
“Nigeria’s trade surplus increased by 44.3% in Q2 2025 to ₦7.46 trillion ($4.74 billion), the largest in about three years. Goods manufactured in Nigeria and exported jumped by 173%.
“Non-oil exports, as a component of our export trade, now represent 48 per cent, compared to oil exports, which account for 52 per cent. This signals that we are diversifying our economy and foreign exchange sources outside oil and gas.”
Tinubu also urged Nigerians to embrace locally made products as part of efforts to drive national growth and reduce dependence on foreign goods.
The president explained that while the federal government is implementing policies to stabilise the economy and improve infrastructure, citizens also have a responsibility to support nation-building through choices that favour local production.
He noted that placing Nigeria first in everyday consumption decisions would help accelerate growth and secure a sustainable future.
“Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes.”
