A political advocacy group, the Tinubu Media Volunteers (TMV), says Nigeria’s ₦12.59 trillion trade surplus in the second quarter of 2026 is evidence that President Bola Tinubu’s reforms are successfully diversifying the economy away from crude oil.
In a statement issued by Chairman Chukwudi Enekwechi and Secretary Segun Ogedengbe, the group highlighted official foreign trade data showing exports accounting for 65% of total trade against 35% for imports.
TMV noted that non-oil exports and refined products from the Dangote Petroleum Refinery—including aviation fuel, fertilizer, and petrol—have boosted foreign exchange earnings and strengthened national reserves.
“Under President Bola Tinubu’s economic reform agenda, Nigeria is presently exporting more non-oil products, thereby diversifying the country’s economy,” the group said, describing the positive trade balance as a key step toward sustainable national development.
However, socio-economic analysts point out that these headline macroeconomic gains have yet to translate into improved living standards for ordinary Nigerians. Persistent food inflation, elevated transportation costs, and high energy prices continue to erode household purchasing power, keeping over 60 percent of the population living in poverty despite growing trade figures.
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