Nigeria’s Agricultural Trade Falls as Export Value Drops 36% in Q2 2026 

Nigeria’s agricultural foreign trade showed mixed performance in the second quarter of 2026, with export earnings falling sharply while imports rose, according to foreign trade statistics from the National Bureau of Statistics (NBS).

The total value of agricultural goods traded during the quarter stood at ₦2.01 trillion, comprising ₦802.99 billion in exports and ₦1.20 trillion in imports. Agricultural exports declined by 36.09% from ₦1.26 trillion in Q2 2025 and fell by 31.51% from ₦1.17 trillion in Q1 2026.

The decline in export value highlights the pressure facing Nigeria’s agricultural export sector despite the country’s large production base and strong demand for commodities in international markets.

Cashew, Cocoa Lead Agricultural Exports

Cashew nuts (in shell) emerged as Nigeria’s most valuable agricultural export in Q2 2026, generating ₦268.62 billion. This was followed by standard-quality cocoa beans, valued at ₦154.31 billion, sesamum seeds at ₦96.03 billion, superior-quality cocoa beans at ₦58.82 billion, and soya beans (excluding seeds) at ₦50.22 billion.

Meanwhile, Asia remained the largest destination for Nigerian agricultural products, acquiring exports worth ₦511.31 billion, while Europe accounted for ₦199.10 billion.

Vietnam and India were particularly important markets for Nigerian cashew, importing ₦143.47 billion and ₦115.26 billion worth of cashew nuts (in shell), respectively. For standard-quality cocoa beans, Malaysia and the Netherlands received exports valued at ₦48.69 billion and ₦48.56 billion, respectively.

China and Vietnam were also significant destinations for Nigerian sesamum seeds, with exports valued at ₦44.00 billion and ₦12.51 billion, respectively.

The figures show the continued concentration of Nigeria’s agricultural exports around a relatively small group of commodities, particularly tree crops and oilseeds. Meanwhile, it is missing out on other valuable products such as rice (paddy), pork, beef, cow milk, chicken meat, maize, wheat, and soybeans.

Agricultural Imports Rise as Raw Material Exports Surge

While agricultural exports declined, imports moved in the opposite direction. Nigeria imported ₦1.20 trillion worth of agricultural goods in Q2 2026, accounting for 8.35% of total imports. This represented a 1.63% increase from Q2 2025 and a much larger 45.43% rise from ₦827.72 billion in Q1 2026.

Major imports included durum wheat, with ₦66.38 billion sourced from Poland and ₦61.20 billion from Germany. Nigeria also imported frozen blue whiting meat worth ₦54.96 billion from the Faroe Islands and ₦18.01 billion from Ireland. Frozen herring meat imports from the Netherlands and Russia were valued at ₦21.23 billion and ₦12.95 billion, respectively.

Meanwhile, the raw materials sector recorded total trade of ₦4.10 trillion, with exports of ₦2.31 trillion exceeding imports of ₦1.79 trillion. Urea exports to the United States alone were valued at ₦1.07 trillion, underscoring the growing importance of Nigeria’s fertiliser and industrial raw material exports.

The contrasting figures point to a key challenge for Nigeria’s agriculture: increasing domestic production and processing capacity while reducing dependence on imported food and strengthening the value and competitiveness of agricultural exports.

Agricultural Products Dominate Export Performance

Agricultural products recorded significant export activity in Q2 2026, with vegetable products accounting for ₦516.70 billion in exports. This figure was lower than the ₦622.23 billion recorded in the corresponding quarter of 2025, representing a decline of about 17.0%.

Exports of prepared foodstuffs, beverages, spirits and vinegar, and tobacco stood at ₦389.88 billion in Q2 2026, down from ₦725.90 billion in Q2 2025. Meanwhile, exports of animal and vegetable fats and oils increased to ₦27.55 billion from ₦14.37 billion over the same period.

Nigeria also exported live animals and animal products valued at ₦21.25 billion, compared with ₦29.12 billion in Q2 2025. Exports of raw hides and skins, leather and related products rose sharply to ₦16.38 billion from ₦9.56 billion. Together, the numbers show that while primary agricultural commodities remain important to Nigeria's export earnings, performance across agricultural product categories was uneven during the quarter.

Vegetable Products Remain a Major Agricultural Import

On the import side, vegetable products accounted for ₦643.42 billion in Q2 2026, making them one of the largest agricultural-related import categories. However, this was a decline from the ₦773.65 billion recorded in Q2 2025.

Imports of prepared foodstuffs, beverages, spirits and vinegar, and tobacco increased to ₦680.14 billion from ₦560.46 billion in the same period. Live animals and animal products also rose from ₦422.04 billion in Q2 2025 to ₦554.41 billion in Q2 2026.

The country also imported animal and vegetable fats and oils worth ₦155.09 billion, up from ₦94.46 billion a year earlier. Imports of raw hides, skins, leather and related products remained relatively stable at ₦79.85 billion, while wood and articles of wood fell to ₦100.95 billion from ₦138.78 billion.

The import figures point to continued demand for food and agricultural-related products despite Nigeria's large domestic agricultural base, particularly in processed food and animal-product categories.