Nigeria’s agriculture trade swings from N740 billion surplus to N56 billion deficit in H1 2026
Nigeria’s agricultural trade balance swung from a N740.27 billion surplus in the first half of 2025 to a N56.13 billion deficit in H1 2026, as exports declined sharply while imports remained relatively high. The post Nigeria’s agriculture trade swings from N740 billion surplus to N56 billion deficit in H1 2026 appeared first on Nairametrics .
In the first half of 2026, Nigeria's agricultural trade balance shifted from a surplus of N740.27 billion in the same period of 2025 to a deficit of N56.13 billion. This reversal was primarily driven by a significant drop in agricultural exports, while imports remained relatively stable. According to data from the National Bureau of Statistics (NBS), agricultural exports fell to N1.98 trillion in H1 2026 from N2.96 trillion in the comparable period of 2025, marking a 33.3% year-on-year decline.
Conversely, agricultural imports decreased by a more modest 8.5%, falling from N2.22 trillion to N2.03 trillion. The trade deficit highlights the critical role of agricultural commodities in Nigeria's trade and employment sectors. Although overall agricultural exports declined, certain commodities like cocoa and sesame maintained substantial export values during Q2 2026.
Agriculture remains a major source of employment in Nigeria, with 25.34 million people actively employed in the sector in 2023, constituting 30.1% of the country's workforce. The latest trade figures emphasize the challenge of turning Nigeria's ample agricultural production and employment base into consistent export earnings and a more favorable agricultural trade balance.
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