Nigeria leads in intra-African trade with $18.4bn in 2024 — Afreximbank

Nigeria has emerged as the largest intra-African trading country in West Africa in the year 2024, with $18.4 billion in trade value. This is according to a report launched by the African Export-Import Bank (Afreximbank) at the ongoing 32nd edition of Afreximbank Annual Meetings in Abuja. The flagship report titled “2025 African Trade Report” stated […]

Nigeria has emerged as the largest intra-African trading country in West Africa in the year 2024, with $18.4 billion in trade value.

This is according to a report launched by the African Export-Import Bank (Afreximbank) at the ongoing 32nd edition of Afreximbank Annual Meetings in Abuja.

The flagship report titled “2025 African Trade Report” stated that “In West Africa, Nigeria emerged as the region’s largest intra-African trading country as trade with the rest of Africa expanded to reach approximately US$18.4 billion in 2024, up from just US$8.1 billion in 2023.

“Crude oil remains Nigeria’s primary export to African markets during the period, but there was growing momentum toward refined product exports following the operational launch of the Dangote Refinery.

“The refinery, Africa’s largest with a processing capacity of 650,000 barrels per day, began supplying petroleum products directly to Cameroon and other neighbouring markets,” the report added.

This development, the report states, is expected to reduce dependency on intermediaries and foster regional energy integration.

In 2024, intra-African trade demonstrated a gradual yet consistent advancement toward deeper continental integration, even amid global economic uncertainties, reflected in the robust growth of intra-African trade during 2024 compared with a contraction in 2023, the report added.

The report further disclosed that intra-African trade reached $220.3 billion in 2024, compared with $196.04 billion in 2023 and US$208.3 billion in 2022.

The top five intra-African exporters in 2024, according to the report, are South Africa, Côte d’Ivoire, Egypt, Nigeria, and Zimbabwe.

These five countries are followed by Mali, Ghana, Zambia, the Democratic Republic of Congo, and Namibia.