Nigeria’s gas exports rise 4.2% to $6.22bn in H1 2026

ABUJA, Nigeria — Nigeria’s gas export earnings rose 4.2% year-on-year to $6.22 billion in the first half of 2026, up from $5.97 billion in the same period of 2025, according to the Central Bank of Nigeria (CBN) Balance of Payments Highlights for the first and second quarters.

Kanyi Daily reports that the increase was driven by stronger earnings in the second quarter, when gas exports reached $3.63 billion, up 9.7% from $3.31 billion in Q2 2025.

First-quarter gas export earnings stood at $2.59 billion, down from $2.66 billion a year earlier, before rising 40.2% quarter-on-quarter to $3.63 billion in Q2 2026.

The CBN said natural gas exports increased 40.15% in the second quarter, making gas one of the contributors to the rise in Nigeria’s goods export earnings. The country’s current account surplus also increased 67.9% to $7.54 billion in Q2 from $4.49 billion in Q1, supported by higher export receipts and diaspora remittances.

Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that Nigeria exported 733,778 million standard cubic feet of natural gas in the first eight months of 2026, up 19.1% from the corresponding period of 2025.

Nigeria’s annual gas export earnings rose 21% to $10.51 billion in 2025, from $8.66 billion in 2024. The NUPRC’s Gas Development Roadmap targets more than 55 trillion cubic feet of uncommitted gas reserves, while Nigeria has more than 200 trillion cubic feet of proven natural gas reserves.