Maritime Transport Leads Nigeria’s Foreign Trade in Q4 2024 as Exports Outpace Imports by 39% – NBS

 The National Bureau of Statistics (NBS) has revealed that Nigeria’s maritime sector dominated the country’s foreign trade in the fourth quarter of 2024, with total exports exceeding imports by 39%. This highlights a growing shift in trade balance, as Nigeria continues to strengthen its position in global trade through increased export activities.

According to the NBS report, maritime transport facilitated 98.8% of the country’s total exports and 90.2% of imports within the period, making it the most crucial mode of transportation for international trade. The Apapa Port in Lagos handled 89.6% of outbound shipments, further reinforcing its status as Nigeria’s busiest port.

Analysts have attributed this trade surplus to increased crude oil and agricultural exports, as well as improved efficiency in port operations. However, challenges such as port congestion, high logistics costs, and infrastructure deficits continue to impact Nigeria’s trade performance.

The federal government has reiterated its commitment to improving port infrastructure, reducing bureaucratic bottlenecks, and promoting policies that encourage export-driven growth. Stakeholders have also called for enhanced security measures to tackle piracy and smuggling along Nigeria’s waterways, ensuring safer and more efficient maritime trade.