Nigeria recorded a trade deficit of about N1.63 trillion with the United States in the first quarter of 2026 as exports declined sharply while imports from the U.S. nearly doubled.
Figures released by the National Bureau of Statistics (NBS) showed exports to the U.S. fell by 23.69 per cent to N1.18 trillion, down from N1.54 trillion in the corresponding period of 2025.
Meanwhile, imports from the United States surged by 97.33 per cent to N2.81 trillion, compared to N1.42 trillion a year earlier, making the US Nigeria’s second-largest source of imports after China.
The sharp rise in imports and decline in exports reversed Nigeria’s trade position with the US, shifting from a N122 billion surplus in the first quarter of 2025 to a N1.63 trillion deficit in the same period of 2026.
Despite an overall decline in Nigeria’s import spending, demand for American goods remained strong, with U.S. products accounting for 20.6 per cent of total imports during the quarter.
Although exports to the U.S. recovered from the previous quarter, they remained below last year’s level, with the U.S. ranking as Nigeria’s fifth-largest export destination.
The widening trade imbalance came amid the implementation of new reciprocal tariff measures by the United States, which raised tariffs on many Nigerian non-oil exports from 14 to 15 per cent from August 2025, although crude oil exports remained exempt.
Overall, bilateral trade between both countries stood at N3.98 trillion in the first quarter of 2026, underscoring the importance of the economic relationship despite the growing trade gap.
