FG Sells Over N47trn Worth of Crude, Spain Leads List of Top 10 Countries Buying
- The National Bureau of Statitics has provided insight into Nigeria’s crude oil exports for 2025
- The data showed major buyers of crude oil are across Europe, Asia, North America and Africa
- Crude oil remained Nigeria’s top export, with major buyers including Spain, France and India
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Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
The National Bureau of Statistics has revealed that Nigeria exported N47.43 trillion worth of crude oil in the full year of 2025.
This represents a decline from N55.29 trillion worth of crude sold in 2024.
Source: Getty Images
The NBS disclosed the figures in its Q4 foreign trade in goods statistics report.
Here is an insight into crude oil price sales
Nigeria's Crude oil export earnings rose from N9.44 trillion in 2020 to N14.41 trillion in 2021, then increased further to N21.10 trillion in 2022 and N29.00 trillion in 2023.
Earnings surged sharply to N55.29 trillion in 2024 before declining to N47.43 trillion in 2025.
Monthly crude oil exports in 2025
Crude oil export earnings fluctuated throughout 2025, averaging over N4 trillion in several months.
- January: N4.21 trillion
- February: N4.29 trillion
- March: N4.46 trillion
- April: N3.51 trillion
- May: N4.26 trillion
- June: N4.20 trillion
- July: N4.95 trillion
- August: N3.91 trillion
- September: N3.95 trillion
- October: N3.67 trillion
- November: N2.78 trillion
- December: N3.26 trillion
Analysis of the data shows that exports peaked in July 2025 at N4.95 trillion, while November recorded the lowest monthly value at N2.78 trillion.
Top global crude oil trading partners (Q4 2025)
Nigeria’s crude oil exports in the fourth quarter of 2025 were dominated by buyers in Europe and Asia, with Spain, the Netherlands, and Canada ranking among the top destinations.
- Spain: N1.47 trillion
- Netherlands: N1.05 trillion
- Canada: N979.38 billion
- France: N893.76 billion
- Indonesia: N898.41 billion
- India: N797.40 billion
- South Africa: N605.99 billion
- United States: N616.23 billion
- China: N185.28 billion
Source: Getty Images
Top African crude oil buyers
Within Africa, South Africa led imports of Nigerian crude, followed by Côte d’Ivoire and Egypt.
- South Africa: N605.99 billion
- Côte d’Ivoire: N471.44 billion
- Egypt: N283.59 billion
- Senegal: N180.27 billion
- Ghana: N67.86 billion
- Togo: N97.38 billion
Key takeaways from Nigeria's foreign trade data
Earlier, Legit.ng reported that Nigeria’s total merchandise trade stood at N36.21 trillion in the fourth quarter of 2025.
This represents a 1.07% decline compared with N36.60 trillion recorded in the corresponding period of 2024 and an 8.94% drop compared with N39.77 trillion recorded in the preceding quarter (Q3 2025).
The decline was largely driven by a fall in crude oil exports. From breaking news to viral moments.
Despite the decline in total trade, Nigeria recorded a trade surplus of N1.71 trillion during the period under review.
Source: Legit.ng
