Nigeria world map

Trade in Nigeria

Nigeria was the world’s 53rd largest exporter of goods and 77th largest exporter of commercial services in 2021. Export values were $46.9 and $3.6 billion USD respectively. Nigeria’s top export category was fuels and mining products, followed by manufactures, and agricultural products. In 2020, Nigeria’s main export destination markets for goods and services trade were to India, Spain and Netherlands, with trade representing 16.35 per cent of GDP. In terms of imports, Nigeria’s import values were $51.9 and $14.9 billion USD respectively in 2021. Nigeria’s top import category was manufactures, followed by fuels and mining products and agricultural products. Leading import partners were China, the United States and India. Nigeria is part of 2 different Regional Trade Agreements, including Economic Community of West African States (ECOWAS), Global System of Trade Preferences among Developing Countries (GSTP).

 

Regional Trade Agreements Database

General Information

This section includes general information on the economy, legal system, official languages and links to additional demographic information.

Official Name

Federal Republic of Nigeria

Abbreviation

NG

Capital

Abuja

WTO Membership Date

1 January 1995

Legal System

mixed legal system of English common law, Islamic law (in 12 northern states), and traditional law

Language

English

Number of Time Zone(s)

1

Additional Information

Financial Information

This section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance.

Currency

Nigerian naira

Exchange Rate

Google Finance Currencies

GTFP Confirming Banks

Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited.
  • Diamond Bank PLC - Lagos, Nigeria - SWIFT: DBLNNGLA

Contact Information

This section includes contact information for business support organizations and national resources.

Business Support Organizations

Government MSME Agency

  • Bank of Industry (BOI)

  • Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)

  • Industrial Training Fund (ITF)

    itf.gov.ng

Copyright Offices

  • Nigerian Copyright Commission (NCC)

  • Federal Ministry of Information and Culture

Industrial Property Offices

  • Patents and Designs Registry

  • Commercial Law Department

  • Federal Ministry of Industry, Trade and Investment

SPS Enquiry Points

Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements.
  • Animal Health & Safety: Federal Ministry of Agriculture & Rural Development, Livestock Department (FMRD/Livestock)


    Dr Chinyere Akujobi


    Assistant Director


    Phone: +(234) 8035877722


    Website: http://www.fmard.gov.ng

    [email protected]
  • Food Safety: National Agency for Food and Drug Administration and Control (NAFDAC)

    Ms Flora Mari

    Phone: +(234) 802 357 1351

    +(234) 01-2919532

    Website: www.nafdac.gov.ng

    Plot 2032,Olusegun Obasanjo Way

    Wuse Zone 7

    [email protected]@nafdac.gov.ng
  • Plant Health: Nigeria Agricultural Quarantine Service (NAQS)
    Ms Rosemary Uche-oguneme
    Plant Quarantine Inspector
    Plot 81, Ralph Sodeinde street CBD, FCT
    Abuja-Nigeria
    Phone: Tel: +(234) 7061680867 +(234) 8091333385
    Website: www.naqs.gov.ng

    [email protected] [email protected]

TBT Enquiry Points

Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements.
  • Standards Organisation of Nigeria,
    Chudi-Anaukwu, Chioma Vivienne
    Phone: +(234) 803 316 2789; +(234) 809 716 7219
    Website: http://www.son.gov.ng

    Plot 13/14
    Victoria Arobieke Street, off Admiralty Way,
    Lekki Phase 1.

    [email protected], [email protected]

Additional Information

ePing alert

Links to other helpful resources

This section includes additional links to trade-related resources.

Trade Information Portal

https://trade.gov.ng/en/

Last Reviewed: June, 2023

Businesses & Entrepreneurs

Find a concise overview of key aspects of international trade for micro, small, and medium-sized enterprises with our Businesses & Entrepreneurs Guides.

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