Nigeria’s export earnings rise 23.7% to $35.6bn in H1’26
AI Executive Briefing
Gemini Flash AI~45s readNigeria recorded a 23.7% year-on-year increase in total export earnings, reaching $35.64 billion in the first half of 2026. This growth was primarily fueled by a significant rise in petroleum products exports and steady performance in crude oil and gas sectors.
Context & Background
- ✦The data is derived from the Central Bank of Nigeria's quarterly statistical bulletin for Q2 2026.
- ✦Petroleum-related exports remain the dominant economic pillar, representing 84.3% of the nation's total export earnings.
Key Figures & Named Entities
Central Bank of Nigeria (CBN):Source of the quarterly statistical bulletin data.Petroleum products exports:Increased by 238.7% to $6.31 billion.Crude oil exports:Generated $17.51 billion, a 7.7% increase year-on-year.
Outlook & Next Steps
The economy continues to rely heavily on the petroleum sector, with non-oil exports showing growth in absolute terms but a slight decline in their overall percentage contribution to total earnings.
Key Takeaways
AI Summary- Nigeria's total export earnings grew by 23.7% year-on-year to $35.64 billion in the first half of 2026.
- Petroleum products were the primary growth driver, surging 238.7% to $6.31 billion compared to the previous year.
- Petroleum-related exports (crude oil, gas, and petroleum products) continue to dominate, accounting for 84.3% of total export earnings.
Key Facts:H1 2025: Nigeria's total export earnings reached $28.82 billion in the first half of 2025.H1 2026: Total export earnings increased to $35.64 billion in the first half of 2026.
Editorial Excerpt
By Babajide Komolafe Nigeria’s total export earnings rose by 23.7 per cent year-on-year, YoY to $35.64 billion in the first half of 2026 (H1’26), from $28.82 billion in the corresponding period of 2025, driven largely by a surge in petroleum products exports.
Frequently Asked Questions About This Story
What was the primary driver of the increase in export earnings in H1 2026?
The growth was largely driven by a surge in petroleum products exports, which accounted for about 65% of the total growth.
How did non-oil exports perform during this period?
Non-oil exports increased by 18.2% year-on-year to $5.60 billion, though their share of total export earnings decreased to 15.7%.
