Nigeria’s trade sector recorded a strong performance in the first quarter of 2026, attracting $65.79 million in foreign capital, representing a significant 91.31% increase compared to $34.39 million recorded in the same period of 2025.
According to the latest Capital Importation Report by the National Bureau of Statistics (NBS), the surge in investment highlights renewed investor interest in commercial activities and cross-border trade, even as inflows moderated from the stronger figures posted in the second half of 2025.
Trade Leads GDP Contribution
In a notable development, the trade sector emerged as the single largest contributor to Nigeria’s Gross Domestic Product (GDP) in the first quarter of 2026, accounting for 17.89% of total output.
Dr Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise, attributed the strong showing to improving macroeconomic conditions.
“This reflects the positive effects of improved exchange rate stability, better FX liquidity conditions, easing inflationary pressures and recovering business confidence on commercial activities and trade flows,” he said.
However, Yusuf cautioned that sustainable economic growth cannot rely solely on commerce. He stressed the need for stronger industrialisation, enhanced productive capacity, and increased domestic value addition for long-term resilience.
Growing Role of Trade in Africa
Experts believe trade will play an even bigger role in driving growth across Africa as regional integration deepens under the African Continental Free Trade Area (AfCFTA).
Bowale Adeoye, CEO of Seedtree Capital, noted that innovations in trade finance and logistics are reshaping intra-African commerce. She highlighted the shift toward continental payment systems, which are reducing transaction costs and settlement delays while addressing Africa’s significant trade finance gap.
Similarly, Ijeoma Ezenwa, CEO of NAHCO Commodities Limited, pointed to the transformation in Africa’s agricultural sector, which is moving from raw commodity exports toward value-added processing and integrated supply chains.
“Market access is increasingly determined by standards, traceability, and quality assurance,” she said.
Government Focus on Trade Facilitation
The Federal Government has identified trade facilitation as a key priority for 2026. The Ministry of Industry, Trade and Investment plans to focus on export supply development, investment mobilisation, and leveraging digital infrastructure.
Key initiatives include a national Made-in-Nigeria campaign, industrial cluster development, support for women-led businesses, and the transformation of the cotton, textile, and garment value chain.
The broader capital importation report showed that total foreign capital inflows into Nigeria rose to $10.37 billion in Q1 2026, up from $5.64 billion in the corresponding period of 2025, with portfolio investment remaining the dominant component.
