Manufactured goods exports in Nigeria increased by 67.2 percent in the second quarter of 2025, according to the latest foreign trade report. The growth points to a notable rise in industrial activity despite persistent challenges in the sector.
Exports value rises to N803.8 billion
Data showed that manufactured exports rose to N803.8 billion in Q2 2025 from N480.8 billion in the same quarter of 2024. On a quarter-on-quarter basis, exports grew by 173 percent compared to N294 billion recorded in the first quarter of the year.
The total value of manufactured goods traded in Q2 2025 stood at N8.7 trillion, representing 22.8 percent of total trade.
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Key commodities exported
The report revealed that the main manufactured export commodity was lightvessels, fire-floats, floating cranes and other vessels exported to the Netherlands and France, valued at N212.04 billion and N24.1 billion, respectively.
This was followed by floating or submersible drilling or production platforms valued at N90.43 billion exported to Equatorial Guinea, and unwrought aluminium alloys worth N55.71 billion and N7.62 billion exported to Japan and India, respectively.
By destination, manufactured exports to Europe stood at N357.70 billion, followed by exports to Africa at N254.07 billion, and to Asia at N168.53 billion.
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Business activity strengthens
The August Purchasers Manufacturing Index (PMI) released last week showed business activity rising for the ninth consecutive month. The headline index increased to 54.2 in August from 54 in July.
“At 54.2 in August, the headline PMI was above the 50.0 no-change mark for the ninth month running, signalling a sustained improvement in the health of the Nigerian private sector,” the report stated.
The reading marked the strongest expansion since April, driven by growth in output and new orders, which reached four- and 19-month highs, respectively.
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Import dependence remains high
The foreign trade report also showed that Nigeria’s imports of manufactured goods remain significant. The largest item was machines for reception, conversion and transmission of voice, images or data imported from China, valued at N261.1 billion.
This was followed by herbicides, anti-sprouting products and planters imported from China and India valued at N144.1 billion and N5.9 billion, respectively.
Other manufactured imports included new pneumatic tyres for buses and lorries from China worth N135.9 billion and medicaments imported from India and China valued at N73.4 billion and N26.4 billion, respectively.
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Currency pressures and input costs
Manufacturers continue to face rising costs due to foreign exchange volatility. The naira traded at N1,600/$ during the reporting period, compared to N1,550/$ in the same quarter of 2024.
With raw materials invoiced in dollars, manufacturers are required to fund imports with a weaker local currency. According to the Manufacturers Association of Nigeria (MAN), exposure to the FX market averages about 40 percent across the sector, though it is higher in industries such as pharmaceuticals and chemicals where most inputs are imported.
Products ranging from raw materials to machinery are imported weekly, making manufacturers some of the largest importers in the country despite the expectation that they should be at the forefront of export growth.
“Due to the high and volatile foreign exchange rate and high import duties, the cost of importing needed raw materials has risen astronomically,” said Segun Ajayi-Kadir, director-general of MAN, at the BusinessDay Manufacturing Conference in Lagos.
“Sadly, while most of these raw materials are not available locally, those that are available are scarce and becoming limited in supply,” he added.
