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.
An analysis by Nairametrics of the Q1 and Q2 2026 Foreign Trade Statistics released by the National Bureau of Statistics (NBS) showed that agricultural exports fell to N1.98 trillion in H1 2026 from N2.96 trillion in the corresponding period of 2025.
The reversal was driven by a sharper decline in exports than imports, with the second quarter accounting for the bulk of the deterioration.
The figures also highlight the continued importance of agricultural commodities to Nigeria’s trade and employment base.
Nigeria’s agricultural exports declined by 33.3% year-on-year to N1.98 trillion in H1 2026, compared with N2.96 trillion in the same period of 2025. Agricultural imports also declined, but by a smaller 8.5%, falling from N2.22 trillion to N2.03 trillion.
The H1 reversal therefore reflects the sharp contraction in agricultural export earnings during the period, particularly in the second quarter.
Despite the overall decline, several agricultural commodities continued to record substantial export values during Q2 2026, led by cocoa and sesame.
The figures show that cocoa, sesame, soya and other agricultural commodities remained significant contributors to Nigeria’s non-oil exports despite the overall decline in agricultural trade earnings.
Agriculture also remains one of Nigeria’s largest sources of employment, with NBS data showing that 25.34 million people were actively employed in agriculture, forestry and fishing activities in 2023.
The sector accounted for 30.1% of Nigeria’s total workforce during the period.
Agriculture employed more people than wholesale and retail trade, which accounted for 23.13 million workers or 27.5% of the workforce.
The latest trade figures underscore the challenge of converting Nigeria’s sizeable agricultural production and employment base into sustained export earnings and a stronger agricultural trade balance.
