In the third quarter of 2024, Nigeria’s exports to Economic Community of West African States (ECOWAS) countries amounted to N1.54 trillion, while imports stood at N82 billion based on data from the National Bureau of Statistics. Ivory Coast was Nigeria’s primary trading partner within the ECOWAS region, importing goods worth N662.71 billion, followed by Togo at N574.93 billion. Together, these two countries accounted for 97.60 percent of Nigeria’s total exports to ECOWAS countries during the period.
Petroleum oils and oils from bituminous minerals were the leading exports, valued at N1,285.77 billion, making up 83.45 percent of Nigeria’s total exports to ECOWAS. The top five exported products represented 93.19 percent of total exports to the region, with other significant exports including electrical energy, liquefied petroleum gases, and cocoa beans.
On the import side, Nigeria imported goods worth N82.05 billion from ECOWAS countries. Ivory Coast, Ghana, Togo, Niger Republic, and Benin Republic were the major trading partners accounting for 86.95 percent of total imports from the region. The primary imported commodities were petroleum bitumen, aviation spirit, and cocoa powder as highlighted in the report.