Nigeria’s total export earnings rose by 23.7 per cent year-on-year to $35.64 billion in the first half of 2026.
The figure compares with $28.82 billion recorded in the corresponding period of 2025.
The growth was driven largely by a surge in petroleum products exports.
This is according to an analysis of data from the Central Bank of Nigeria’s quarterly statistical bulletin for the second quarter of 2026.
The data showed that export earnings increased by $6.82 billion during the six-month period.
Petroleum products accounted for about 65 per cent of that growth.
Petroleum products exports jumped by 238.7 per cent YoY to $6.31 billion in H1’26, from $1.86 billion in H1’25.
This represents an increase of approximately $4.45 billion.
Crude oil remained Nigeria’s largest individual export category, generating $17.51 billion.
The figure is up 7.7 per cent YoY from $16.25 billion in the corresponding period of 2025.
Gas exports also increased, rising by 4.2 per cent YoY to $6.22 billion, from $5.97 billion.
Consequently, total exports of crude oil, gas and petroleum products rose by 21.9 per cent YoY to $30.03 billion, from $24.63 billion in H1’25.
The performance indicates that petroleum-related exports remained the dominant source of Nigeria’s export earnings.
They accounted for about 84.3 per cent of total exports during the period.
Meanwhile, non-oil exports increased by 18.2 per cent YoY to $5.60 billion, from $4.74 billion in H1’25.
Despite the increase, non-oil exports accounted for about 15.7 per cent of total export earnings.
This is down from approximately 16.5 per cent in the corresponding period of 2025.
