Nigeria’s trade sector attracted $65.79m in foreign capital in the first quarter of 2026, a 91.3% increase year-on-year from $34.39m in Q1 2025, according to the National Bureau of Statistics (NBS).
Although inflows rose compared to last year, they were lower than the $80.94m in Q3 2025 and $119.21m in Q4 2025, showing moderated momentum after two strong quarters.
Trade also emerged as the largest contributor to GDP in Q1 2026, accounting for 17.89% of total output.
Commenting on the GDP performance, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Economist Dr. Muda Yusuf said “The emergence of the trade sector as the single largest contributor to GDP reflects the positive effects of improved exchange rate stability, better FX liquidity, easing inflationary pressures and recovering business confidence.”
He cautioned, however, that commerce alone cannot drive sustainable growth without stronger industrialisation and value addition.
Industry experts highlighted regional integration under the African Continental Free Trade Area (AfCFTA) as a driver of future growth.
Bowale Adeoye of Seedtree Capital noted that “Trade finance innovation is reshaping intra-African commerce, platforms like the Pan-African Payment and Settlement System are reducing costs and delays.”
Adeoye also pointed to cold-chain logistics as critical for food and pharmaceutical trade resilience, while stressing that local value addition is now essential for competitiveness.
Similarly, the Chief Executive Officer of NAHCO Commodities Limited, Ijeoma Ezenwa added that African agriculture is shifting from raw exports to agro-processing and integrated supply chains, with competitiveness increasingly tied to standards, traceability, and quality assurance.
The Ministry of Industry, Trade and Investment outlined priorities for 2026, including a Made-in-Nigeria campaign, industrial cluster development, support for women-led businesses, and digital tools for trade facilitation.
Overall, the total foreign capital inflows into Nigeria rose to $10.37bn in Q1 2026, up from $5.64bn in Q1 2025, with portfolio investment dominating.
