By Anita Dennis
Nigeria’s trade with fellow African countries jumped 127 percent in 2024, rising from $8.1 billion in 2023 to $18.4 billion, according to a newly released 2025 African Trade Report by the African Export-Import Bank (Afreximbank).
That makes a figure that places Nigeria firmly among the continent’s top five intra-African exporters.
The bank attributes this leap to Nigeria’s strengthened participation in the African Continental Free Trade Area (AfCFTA), which entered operational phase two years ago. But beyond policy alignment, a critical driver has been the commercial activation of the Dangote Refinery, now exporting refined petroleum products directly to Cameroon and other West African markets.
“Nigeria emerged as West Africa’s largest intra-African trading country,” the report notes, calling the country’s $18.4 billion performance a “game-changer” in the region’s integration efforts.
Crude Might, Refined Focus
Historically, Nigeria’s intra-African exports have been dominated by crude oil. That has not changed – but the refined products angle is where real momentum is building.
With a processing capacity of 650,000 barrels per day, the Dangote Refinery, Africa’s largest, has started to alter the trading architecture of the region, cutting out intermediaries and allowing Nigeria to supply energy directly to its neighbours. That strategic shift not only boosts trade volumes but deepens energy diplomacy and unlocks new economic leverage for Nigeria.
“This move supports regional energy integration and signals Nigeria’s transition from an exporter of raw materials to a supplier of value-added products,” the report highlighted.
Nigeria’s Trade Renaissance
Nigeria’s stellar rise is part of a broader intra-African trade rebound. Afreximbank notes that 2024 marked a turnaround from contraction in 2023, with countries such as Nigeria and Morocco leading the charge, even as others like Ethiopia and Côte d’Ivoire posted weaker numbers.
South Africa retained its crown as Africa’s top intra-continental trading nation, driven largely by its seamless links within the Southern African Customs Union (SACU) and Southern African Development Community (SADC). But Nigeria’s climb – powered by policy, petroleum, and private investment – has shifted the dynamics in West Africa.
“The numbers reflect more than trade – they point to Nigeria’s reawakening as a continental economic force,” said an economist familiar with the report.
AfCFTA’s Emerging Impact
With the AfCFTA’s phased implementation reshaping tariffs, trade routes, and investment flows, Nigeria’s recent performance may be a glimpse into what full integration could unlock. The increase in direct exports – especially in high-demand products like refined fuel – reduces the region’s reliance on global supply chains and increases African self-sufficiency.
Still, analysts caution that sustaining this momentum will require infrastructure development, logistical improvements, and regulatory predictability.
The $18.4 billion milestone is more than a number. It signals Nigeria’s return to the centre of Africa’s economic conversation – not just as a resource hub, but as a regional trade leader ready to shape the future of intra-African commerce.
