Charting non-oil export path to sustainable economic stability

By Chinwendu Obienyi
Nigeria’s external trade performance in the first quarter of 2026 offered a positive signal for the economy’s balance of payments position, as stronger export earnings and a moderation in import demand combined to deliver a significant trade surplus.
However, beneath the headline improvement lies a familiar challenge, the country’s external stability remains closely tied to crude oil receipts, highlighting the urgency of accelerating non-oil export growth as a pathway to long-term resilience.
Data from the National Bureau of Statistics (NBS) showed that the country’s total merchandise trade stood at N34.79 trillion in Q1 2026, comprising exports of N21.17 tril...