Nigeria Smashes Records with ₦113 Trillion Trade Value as Minister Oduwole Demands More Cash to Hit $1 Trillion Goal

Nigeria’s economy is showing unprecedented muscle on the global stage, with the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, revealing a staggering ₦113 trillion total trade value for the first three quarters of 2025. This historic performance has left the country with a massive trade surplus, signaling that Nigeria is finally selling far more to the world than it is buying.

Speaking on Monday during a high-stakes budget defense at the National Assembly, Dr. Oduwole disclosed that exports grew by 11% to hit $6.1 billion—the highest ever recorded in the nation’s history. The Minister attributed this “State of Harmony” in the balance of trade to deliberate reforms, including the opening of new air cargo corridors and the removal of over 50 “bottlenecks” that previously frustrated international investors.

“Our ministry is central to the country’s economic diversification,” Oduwole told the Senate Committee. “We have moved capital importation from a low of $4 billion in 2023 to $21 billion in just the first 10 months of 2025. The world is looking at Nigeria again.”

However, the Minister didn’t just come to share good news; she came with a warning. Despite the ₦113 trillion success story, Oduwole slammed the “grossly inadequate” ₦2.72 billion capital vote proposed for her ministry in the 2026 budget. She argued that if the government wants to reach the President’s ambitious $1 trillion economy target, it must stop starving the very ministry responsible for industrialization and investment attraction.

The data shows that the weaker Naira has made Nigerian goods more attractive abroad, while the implementation of the African Continental Free Trade Area (AfCFTA) has boosted trade with fellow African nations by 14%. As the Senate considers her plea for a funding boost, the record-breaking trade surplus stands as a powerful testament to the “Renewed Hope” economic roadmap.