In my Odogwu era
Nigeria is exporting more goods than usual
Good morning and happy Friday, Big Brains. Zikoko Citizen compiled a list of some of the craziest breaches of democracy Nigeria has had since we said goodbye to military rule. I know Democracy Day has passed, but it’s still worth checking out.
- Margaret
Word count: ~ 1,000
Reading time ~ 5 mins
Let’s get into today’s edition:
Nigeria is exporting more goods than usual
Tinubu wants to “empower” 400,000 Nigerians in July
The Big Deal
Nigeria is exporting more goods than usual
Nigeria enters a new era every three market days, but this might be our best one yet. It’s not news that the country has been heavily reliant on imports for a long time, but there is a small indication that things might be changing soon.
According to new data from the National Bureau of Statistics (NBS), Nigeria’s total exports rose to ₦20.6 trillion in the first quarter of 2025. That’s a 7.42% jump from ₦19.18 trillion in Q1 2024, and a 2.92% increase from the previous quarter. It might not seem like a big deal, but for a country like ours, we’ll take the win.
Unfortunately, our imports are still high. We spent ₦15.43 trillion importing items in Q1 2025, but it’s a slight decrease compared to Q4 2024, when we spent ₦16.59 trillion on imports.
Put two and two together, and you get a positive trade balance of ₦5.17 trillion, which is 51.07% higher than last quarter’s. If you’re not a sucker for Economics, the main gist here is that Nigeria exported more than it imported in the first quarter of the year, and that’s a rare flex we haven’t pulled off in a while.
Why is this a big deal?
This is easily one of Nigeria’s best export performances in recent years. In the last quarter of 2023, we exported items worth only ₦12.7 billion. In Q4 of 2022, exports raked in only ₦6.4 billion. When you compare that to the ₦20.6 trillion we’re working with in the first quarter of 2025 alone, you see an insanely impressive win.
If this trend continues, it could mean several good things for the economy and everyday Nigerians. A stronger export base means more foreign exchange earnings, which is important in a country with a currency that’s still weaker than a senior citizen’s knees. More dollars from exports could help stabilise the exchange rate.
For the first time in a while, non-crude oil exports hit ₦7.64 trillion, making up 37.11% of total exports. If non-oil sectors like agriculture, food processing, and manufacturing keep growing their export game, it could mean employment opportunities, especially for young people.
Then, there’s government revenue. With a higher volume of exports, there’s more money to be made in taxes, duties, and trade-related charges. Ideally, this should translate to better infrastructure and public services. But we’re not trying to get ahead of ourselves.
If we maintain this energy, the Nigerian economy may make it out of the trenches it's currently in.
Tinubu wants to “empower” 400,000 Nigerians in July
Nigerian politicians haven’t particularly had the best history with the word “empowerment,” and President Tinubu might be treading the same path with his recent vague empowerment plan.
In his June 12 address at the National Assembly, the president announced that his administration plans to empower 400,000 Nigerians next month. We don’t have all the details yet, because the president decided to gatekeep, but he mentioned a few things that give us an idea of how he plans to do this.
According to him, Nigeria needs to start producing what it eats. He said the government is already providing tractors to boost agriculture, creating jobs in urban areas and pushing for food security in rural areas. He also assured Nigerians that his administration is focused on boosting Nigeria’s productive base and keeping things transparent, which is interesting because we still haven’t heard anything about the recent budget padding allegations against the said administration.
We’ve heard several promises from the president before, but some of them never really leave the planning stage. In July 2024, the Tinubu-led administration announced a temporary removal of food taxes for 150 days. The Minister of Agriculture and Food Security, Abubakar Kyari, even went as far as promising to “swiftly and diligently” make sure that the policy takes effect because President Tinubu doesn’t want Nigerians going to bed hungry.
That promise aged like milk, soiled and thrown out of the president’s consciousness. This was a well-thought-out promise that came with a plan that could have actually worked, yet it failed with no explanations. So when it comes to this vague empowerment plan, we’d rather manage our expectations.
Your next big read
→The State of Nigeria’s Democracy, Two Years Into Tinubu’s Rule: Nigeria commemorates Democracy Day, and while it’s normal to ask how democracy is faring under different Presidents, that question is particularly interesting during Tinubu’s time as president because of his history.
→Creating Your Own Career Path: Tips from Women Who’ve Walked the Walk: We curated our favourite tips and quotes from these inspiring women to help you begin your career journey and get where you need to be.
The Big Picks
It’s A Pleasure To See Opposition In Disarray, Tinubu Says: President Bola Tinubu on Thursday said his party, the ruling All Progressives Congress, would not close its doors to members of the opposition parties who chose to join the APC.
NASS Adopts June 12 As Annual Presidential Address Day: The National Assembly has formally adopted June 12 as the day for the President of Nigeria to address a joint session of the legislature.
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