Nigeria’s gas exports hit $10.5 billion in 2025, up 21% from 2024

Nigeria’s gas export earnings grew 21% in 2025, reaching $10.51 billion, up from $8.66 billion in 2024, according to the latest Balance of Payments (BOP) report from the Central Bank of Nigeria (CBN).

This growth reflects the continued dominance of oil and gas in Nigeria’s external sector, while signalling early structural shifts toward value-added petroleum exports.

Key highlights

• Hydrocarbon exports: Total exports of crude oil, natural gas, and refined petroleum rose to $48.17 billion in 2025 from $45.51 billion in 2024.
• Refined petroleum exports: For the first time, refined petroleum products contributed meaningfully to Nigeria’s export mix, totaling $6.13 billion.
• Balance of Payments: Nigeria’s BoP surplus fell to $4.23 billion in 2025, with a goods account surplus of $14.51 billion, up from $13.17 billion in 2024.

Drivers of growth

The increase in gas and refined petroleum exports reflects improved performance across the oil and gas value chain.

The operational ramp-up of the Dangote Refinery has enabled Nigeria to begin exporting refined products, reducing reliance on crude-only exports and imports of refined petroleum.

Gas is becoming a strategic pillar in Nigeria’s energy and economic planning. The Nigerian Upstream Petroleum Regulatory Commission’s Gas Development Roadmap targets over 55 trillion cubic feet of uncommitted gas reserves to attract investments across upstream, midstream, and downstream infrastructure.

Non-oil exports also rose to ₦12.36 trillion in 2025 from ₦9.09 trillion in 2024, driven by agriculture, manufacturing, and solid minerals. Despite this improvement, hydrocarbon exports still dominate foreign exchange earnings.

This data underscores Nigeria’s gradual shift toward downstream integration and value retention, while highlighting gas as a stabilizing source of external revenue in the country’s economy.

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