Nigeria’s export earnings rise 23.7% to $35.6bn in H1’26

By Babajide Komolafe Nigeria’s total export earnings rose by 23. 7 per cent year-on-year, YoY to $35. 64 billion in the first half of 2026 (H1’26), from $28. 82 billion in the corresponding period of 2025, driven largely by a surge in petroleum products exports. Analysis of data from the quarterly statistical bulletin, of the Central Bank of Nigeria’s (CBN) for Q2’26, showed that the country’s export earnings increased by $6. 82 billion during the six-month period, with petroleum products accounting for about 65 per cent of the growth. Petroleum products exports jumped by 238.

7 per cent YoY to $6. 31 billion in H1’26 from $1. 86 billion in H1’25, representing an increase of approximately $4. 45 billion. Crude oil remained Nigeria’s largest individual export category, generating $17. 51 billion, up 7. 7 per cent YoY from $16. 25 billion in the corresponding period of 2025. Gas exports also increased, rising by 4. 2 per cent YoY to $6. 22 billion from $5. 97 billion. Consequently, total exports of crude oil, gas and petroleum products rose by 21. 9 per cent YoY to $30. 03 billion from $24. 63 billion in H1’25. The performance indicates that petroleum-related exports…