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By Stella Odueme
The Tinubu Media Volunteers (TMV) has commended the Federal Government over Nigeria’s reported N12.59 trillion trade surplus in the second quarter of 2026, describing it as evidence of progress towards a diversified economy.
The group said the development reflected the growing contribution of non-oil exports to Nigeria’s foreign exchange earnings and the gradual reduction of the country’s dependence on crude oil.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, TMV said the latest trade figures indicated that President Bola Tinubu’s economic reform agenda was yielding positive results.
The group noted that exports accounted for approximately 65 per cent of Nigeria’s total trade in the period under review, while imports represented about 35 per cent.
It said the increase in merchandise and non-oil exports was a significant development in the country’s efforts to build a sustainable economy.
The statement partly read: “The positive implication of the rise in exports of merchandise goods and non-oil goods is that for the first time Nigeria is now earning more foreign exchange from the export of non-oil products.”
TMV also highlighted the contribution of the Dangote Refinery to Nigeria’s export outlook, citing the export of premium motor spirit, fertiliser and Jet A1 fuel.
The group said the refinery’s reported export of aviation fuel to Europe, America and other markets would strengthen foreign exchange earnings and support the country’s external reserves.
It added that the positive trade balance indicated an improvement in Nigeria’s economic relationship with the rest of the world.
“Also under the President Bola Tinubu administration’s economic reform agenda, Nigeria is presently exporting more non-oil products thereby diversifying the country’s economy. This is the only way we can build a sustainable national economy that is not dependent on oil,” TMV stated.
The group said the reported trade performance was a welcome indication that Nigeria was gradually moving away from a mono-product economy towards a more diversified economic structure.
TMV applauded the Federal Government’s efforts to improve trade performance and strengthen the country’s economic base.
It maintained that sustained growth in non-oil exports, increased industrial production and improved foreign exchange earnings would be essential to achieving long-term economic stability.
The group therefore commended President Tinubu for what it described as his persistent efforts to redirect Nigeria’s economy from crude oil dependence to a diversified and sustainable growth path.