You are here

Nigeria

AGOA Status: Nigeria is eligible for AGOA this year. It also qualifies for textile and apparel benefits.

Trade Agreements: The U.S. and Nigeria signed a Trade & Investment Framework Agreement (TIFA) in 2000. The eighth U.S.-Nigerian TIFA Council Meeting was held in March 2014. 

U.S.-Nigeria Trade Facts

U.S. goods and services trade with Nigeria totaled an estimated $12.1 billion in 2017 (latest data available). Exports were $4.6 billion; imports were $7.5 billion. The U.S. goods and services trade deficit with Nigeria was $2.9 billion in 2017.

Nigeria is currently our 49th largest goods trading partner with $8.3 billion in total (two way) goods trade during 2018. Goods exports totaled $2.7 billion; goods imports totaled $5.6 billion. The U.S. goods trade deficit with Nigeria was $3.0 billion in 2018.

Trade in services with Nigeria (exports and imports) totaled an estimated $2.9 billion in 2017 (latest data available). Services exports were $2.5 billion; services imports were $443 million. The U.S. services trade surplus with Nigeria was $2.0 billion in 2017 (latest data available).

According to the Department of Commerce, U.S. exports of Goods and Services to Nigeria supported an estimated 35 thousand jobs in 2015 (latest data available) (17 thousand supported by goods exports and 18 thousand supported by services exports).

Exports

  • Nigeria was the United States' 57th largest goods export market in 2018.
     
  • U.S. goods exports to Nigeria in 2018 were $2.7 billion, up 23.0% ($498 million) from 2017 but down 35.0% from 2008. 

  • The top export categories (2-digit HS) in 2018 were: vehicles ($853 million), machinery ($374 million), mineral fuels ($300 million), cereals (wheat) ($232 million), and aircraft ($185 million).
     
  • U.S. total exports of agricultural products to Nigeria totaled $335 million in 2018. Leading domestic export categories include: wheat ($198 million), prepared food ($20 million), soybeans ($15 million), wine & beer ($15 million), and corn ($13 million).

Imports

  • Nigeria was the United States' 44th largest supplier of goods imports in 2018.
     
  • U.S. goods imports from Nigeria totaled $5.6 billion in 2018, down 20.3% ($1.4 billion) from 2017, and down 85.2% from 2008. 
     
  • The top import categories (2-digit HS) in 2018 were: mineral fuels ($5.4 billion), special other ($45 million), fertilizers ($43 million), cocoa ($16 million), and artificial flowers, feather or down articles ($12 million).
     
  • U.S. total imports of agricultural products from Nigeria totaled $49 million in 2018. Leading categories include: cocoa beans ($15 million), tea, including herb ($8 million), tree nuts ($6 million), feeds & fodders ($6 million), and spices ($4 million).

Trade Balance

  • The U.S. goods trade deficit with Nigeria was $3.0 billion in 2018, a 39.5% decrease ($1.9 billion) over 2017.

Investment

  • U.S. foreign direct investment (FDI) in Nigeria (stock) was $5.8 billion in 2017 (latest data available), a 32.8% increase from 2016.

  • Nigeria's FDI in the United States (stock) was $61 million in 2017, up 48.8% from 2016. There is no information on the distribution of Nigeria FDI in the U.S.