The Nigerian Economic Summit Group (NESG) has raised concerns that the practice of rerouting exports through adjacent nations is damaging Nigeria’s competitive edge. Although the nation achieved a trade surplus of N7.55 trillion during the first quarter of 2026, the group argues that these headline figures mask underlying economic losses.
According to the National Bureau of Statistics, total trade reached N34.79 trillion in Q1 2026. Despite this positive balance, the NESG points out that the domestic economy misses out on logistics revenue and branding opportunities when local goods are sent through other countries. This phenomenon stems from issues like inefficient port operations, complex export rules, and inadequate local quality assurance systems.
The NESG identifies the lack of globally recognized certification as a primary obstacle, forcing producers to seek export channels elsewhere. To reverse this, the group urges the government to bolster local certification standards and streamline port activities. By modernizing infrastructure and reducing bureaucratic delays, Nigeria can better retain the value of its exports. Ultimately, the NESG believes the focus should shift from simple trade surpluses to ensuring that exports create more local jobs and industrial growth, particularly as the nation engages with the African Continental Free Trade Area.
