FX Derivatives surge over 500% as Nigeria’s weekly FX turnover improves 40.45% to $3.39 billion
Nigeria's foreign exchange market recorded a strong rebound in trading activity in the week ended September 11, 2026, with total turnover rising to $3.39 billion, jointly driven by a rebound in spot transactions and a sharp surge in derivatives trading. The post FX Derivatives surge over 500% as Nigeria’s weekly FX turnover improves 40.45% to $3.39 billion appeared first on Nairametrics .
In the first half of 2026, Nigeria's exports of raw materials surged by 106%, reaching N3.84 trillion. The boost in shipments came primarily in the second quarter, with exports surging to N2.31 trillion from N819.72 billion in the same quarter last year. The upward trend was consistent throughout the year, with exports rising from N1.86 trillion in H1 2025 to N3.84 trillion in H1 2026.
Dr. Paul Alaje, chief economist at SPM Professionals, suggested the government should identify states with strong agricultural and mineral production potential and invest in improving productivity. Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, emphasized that value addition would create jobs, lower foreign exchange pressures, and improve Nigeria's balance of payments.
This surge in raw materials exports indicates Nigeria's increasing role in international commodity markets, but it also presents an opportunity to generate more value locally. Trade contributed 17.89% to Nigeria's GDP in Q1 2026.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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