Nigeria Earns $10.5bn From Gas Exports in 2025

Nigeria generated $10.5 billion from gas exports in 2025, marking a sharp increase from the previous year and underscoring the continued importance of hydrocarbons to the country’s external sector.

According to the latest Balance of Payments report released by the Central Bank of Nigeria, gas export earnings rose by more than 21 per cent from $8.66 billion in 2024, contributing to overall growth in the country’s energy exports.

The data highlights the enduring dominance of oil and gas in Nigeria’s trade profile, while also pointing to early signs of structural change as refined petroleum products begin to play a more prominent role.

Total exports of crude oil, natural gas, and refined petroleum products climbed to $48.17 billion in 2025, up from $45.51 billion a year earlier. Within this, refined petroleum exports reached $6.13 billion, reflecting a shift in Nigeria’s traditional export mix toward more value-added products.

The broader balance of payments, however, showed mixed trends. Nigeria recorded a surplus of $4.23 billion in 2025, even as rising external obligations weighed on overall performance across the current and financial accounts.

The goods account posted a surplus of $14.51 billion, an improvement from $13.17 billion in 2024, supported by stronger performance across multiple segments of the oil and gas value chain.

Analysts say the figures suggest a gradual evolution in Nigeria’s export structure, with increasing contributions from processed petroleum products alongside traditional crude and gas exports. While hydrocarbons remain central to the economy, the growing role of refining capacity signals a potential shift toward greater value retention within the country’s energy sector.