Nigeria’s trade momentum strengthened in Q1 2026, as new data from the Nigeria Customs Service (NCS) showed significant growth in export volumes, revenue collections, and cargo throughput.
Nigeria is set to benefit from rising foreign exchange inflows as global crude oil prices surged above $105 per barrel, far above the 2026 budget benchmark of $64.85.
Subnational external debt rose sharply in 2025, with 32 states and the Federal Capital Territory (FCT) accumulating nearly $5.7bn, despite higher inflows from the Federation Account Allocation Committee (FAAC).
The Nigerian Exchange (NGX) closed April 2026 at a record high, with total market capitalisation hitting ₦155.9tn and investors gaining ₦2.68tn, despite volatility in banking stocks.
OPEC+ raised oil production quotas by 188,000 barrels per day for June, in a move analysts say was designed to project stability after the sudden withdrawal of the United Arab Emirates (UAE).
The Federal Government has said work is going on smoothly on the Kaduna-Kano-Maradi rail line, and the project is expected to be delivered by the end of 2027.
