Nigeria’s exports to Africa hit N10.72tn amid naira illusion
Nigeria’s exports to African countries surged to N10.72tn in H1 2026, an increase experts attribute to naira devaluation and oil, not non-oil trade growth. Read More: https://punchng.com/nigerias-exports-to-africa-hit-n10-72tn-amid-naira-illusion/
Nigeria's exports to African nations have surged by an astounding 675.9 percent over six years, reaching N10.72tn in the first half of 2026, according to half-year records. This monumental increase, an almost eight-fold growth, may be partly attributed to the naira's depreciation, rather than a substantial rise in actual export earnings. The dominant role of crude oil and petroleum products in Nigeria's export portfolio raises concerns that export growth might be masking underlying weaknesses in non-oil trade.
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