AfCFTA tariff concessions and refined petroleum exports help strengthen Nigeria’s role in West Africa’s trade growth.
Nigeria’s trade with the rest of Africa rose by 21 per cent in 2025, reaching $9.02 billion as the African Continental Free Trade Area continued to expand regional commercial opportunities for exporters. Afreximbank’s 2026 African Trade Report claims that the increase lifted Nigeria from $7.47 billion in intra-African trade in 2024 and reinforced the country’s position among the continent’s leading regional trading nations.
Nigeria’s Regional Trade Gains Momentum
The report linked Nigeria’s growth to a stronger focus on regional commerce and efforts to use AfCFTA to lower trade barriers, widen market access and expand export markets across Africa.
It stated: “Elsewhere in West Africa, the value of Nigeria’s trade with the continent grew from $7.47 billion to $9.02 billion. Crude oil was a dominant feature in Nigeria’s exports to Africa. Other key exports included non-oil manufactured goods such as chemicals, plastics and rubber products, processed agricultural goods and foodstuffs, urea and cement.”
AfCFTA Supports Market Access
One of the key milestones identified was the gazetting of Nigeria’s Provisional Schedule of Tariff Concessions in April 2025. The move allowed Nigerian products to qualify for preferential tariffs across AfCFTA member states, while also granting reciprocal access to imports from participating African countries.
The report also noted that Nigeria stepped up efforts to deepen intra-African trade by using AfCFTA to lower trade costs for domestic exporters.
Refined Petroleum Drives West Africa Trade
Across the wider continent, merchandise trade reached a record $1.5 trillion in 2025, expanding by 6.1 per cent. Africa’s economy grew by 4.5 per cent during the year, compared with 3.4 per cent in 2024, while intra-African trade rose 5.5 per cent to a record $213.8 billion.
Nigeria was identified as a major driver of West Africa’s trade growth, supported by increased exports of refined petroleum products to neighboring countries including Ghana, Cameroon and Togo. The report linked this shift to Nigeria’s domestic refining capacity, led by the Dangote Refinery, which has reduced dependence on imported petroleum products while positioning the country as a major supplier of refined fuels across West Africa.
Financing Gap Remains a Constraint
Despite the stronger trade performance, Africa remained a net importer in 2025, recording $781.5 billion in imports against $685.2 billion in exports, leaving a trade deficit of $96.3 billion.
The continent’s trade potential also continued to face financing constraints. Afreximbank placed Africa’s trade finance deficit at $74 billion, leaving many businesses unable to secure the credit needed for imports, exports and cross-border transactions. The shortfall was attributed to foreign exchange liquidity challenges, tighter global financial conditions and a continued decline in correspondent banking relationships with international financial institutions.
Logistics and Competitiveness
Beyond tariff concessions, the report highlighted new logistics initiatives, including a dedicated air cargo corridor linking Nigeria with East and Southern Africa. The initiative is reducing transportation costs and improving the competitiveness of Nigeria’s intra-African trade.
For business leaders and policymakers, Nigeria’s 2025 trade performance points to the growing role of regional market access, energy exports and logistics infrastructure in shaping Africa’s next phase of commercial integration.
The report can be downloaded here.
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