Top 5 Countries Nigeria Imports From the Most

Nigeria is a major player in global trade, and its imports shows the country’s growing demand for essential goods, industrial products, and consumer items. 

With billions spent on imports each quarter, certain countries stand out as Nigeria’s biggest trading partners.

Recent data reveals that in the third quarter of 2024, Nigeria’s imports surged to ₦14.67 trillion, a sharp increase from the previous year. This growth shows Nigeria’s reliance on foreign markets for machinery, electronics, fuel, and pharmaceuticals, among other goods. So, which countries top the list? Let’s break it down.

China – Nigeria’s Biggest Import SourceChina leads the pack as Nigeria’s largest import partner, accounting for 24.36% of total imports. In Q3 2024 alone, Nigeria spent a whopping ₦3.57 trillion on Chinese goods. From smartphones to heavy machinery, China supplies Nigeria with a vast range of products. The affordability and variety of Chinese imports make them a dominant force in Nigeria’s market.

India – A Strong Economic PartnerComing in second, India supplied Nigeria with ₦1.66 trillion worth of imports, representing 11.33% of the total. India is a key supplier of pharmaceutical products, automobiles, and industrial equipment. The trade relationship between the two nations has grown steadily, with Indian companies heavily involved in Nigeria’s health and manufacturing sectors.

Belgium – A European ConnectionBelgium ranks third on the list, with Nigeria importing goods worth ₦1.63 trillion, making up 11.13% of total imports. Belgium is known for supplying industrial machinery, chemicals, and medical equipment to Nigeria. The European nation’s role in Nigeria’s import market is significant, especially in sectors requiring advanced technology and high-quality materials.

United States – A Key Supplier of High-End GoodsNigeria’s imports from the United States amounted to ₦1.02 trillion, or 6.98% of total imports. The U.S. provides Nigeria with automobiles, medical equipment, agricultural products, and consumer goods. Many Nigerian businesses and consumers prefer American brands due to their reputation for quality and durability.

Malta – A Surprising Import SourceWhile it may not be the first country that comes to mind, Malta plays a crucial role in Nigeria’s import market. With ₦766.81 billion worth of imports in Q3 2024, Malta supplied Nigeria with petroleum products and other industrial materials. This trade relationship highlights Nigeria’s dependence on foreign partners for energy-related imports.