Nigeria’s trade with BRICS nations surged to $3.61 billion in the first quarter of 2025, more than triple the $1.03 billion exported to the United States over the same period, according to the National Bureau of Statistics. The jump reflects a deepening pivot toward emerging markets and a strategic shift in Nigeria’s global trade focus.
India remains Nigeria’s largest BRICS partner, importing $1.89 billion in goods, followed by Indonesia ($792 million) and South Africa ($471 million). Brazil and China accounted for $245 million and $200 million respectively, while Egypt, a recent entrant to the bloc, registered $1.06 million. The total BRICS trade figure is likely higher once exchanges with Russia, Iran, Ethiopia, and the UAE — not yet included in the dataset — are factored in.
U.S. tariff threats raise uncertainty
Exports to the U.S. rose 65.5% quarter-on-quarter, buoyed by oil, agro-based, and petrochemical products. However, Washington’s potential 10% tariff on imports from countries aligned with BRICS could threaten this growth.
Former U.S. President Donald Trump, campaigning ahead of the 2026 midterm elections, has accused BRICS of “undermining American interests” through de-dollarisation and anti-hegemonic policies. His proposed tariff hike could raise Nigeria’s average exposure on U.S.-bound exports from 14% to 24%.
Trade analysts warn such measures would erode Nigeria’s competitiveness, especially in key export sectors. With the naira’s stability heavily dependent on export earnings, a sharp decline in U.S. trade could force the Central Bank to step in — straining reserves at a time of persistent inflation and tight monetary policy.
