Nigeria Ends 14-Month US Trade Deficit on Urea Exports
Nigeria recorded a significant turnaround in bilateral trade as its trade balance with the United States swung sharply into a N797.50 billion surplus in June 2026, the highest monthly surplus between both countries and a sharp reversal from
Nigeria's bilateral trade balance with the United States swung to a N797.50 billion surplus in June 2026, ending a 14-month deficit streak, with urea exports cited as the primary driver. The shift highlights Nigeria's growing capacity to supply agricultural inputs to US markets, though reliance on a single commodity exposes the surplus to fertilizer price and demand volatility. Sustaining the reversal would likely require broadening export composition beyond urea.
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