Nigeria & Egypt Trade Brief 2026
The most dramatic structural reversal in this series — a $153.1m LNG line in 2024 flipped a chronic Nigerian deficit with Egypt to near-parity in a single year.
Executive summary
The Nigeria–Egypt bilateral trade corridor underwent the most dramatic structural reversal in this brief series between 2023 and 2024. For three consecutive years — 2021, 2022, and 2023 — Nigeria ran a significant formal trade deficit with Egypt: Egyptian manufactured goods, chemicals, construction materials, and food products flowing south into Nigeria at $168–205m annually, while Nigerian exports to Egypt remained at $4.3–12.2m. Then in 2024, a $153.1m entry in Mineral Fuels — almost certainly Nigerian LNG exported to Egypt’s energy-distressed gas market — transformed the bilateral data overnight. Nigerian exports surged to $171.8m; the deficit of $187.5m (2023) compressed to $33.5m (2024). The corridor pivoted from a chronic structural deficit for Nigeria to near-parity in a single year.
The Egyptian energy crisis is the structural context. Egypt was once a net natural gas exporter, operating two LNG export terminals (Idku and Damietta). Since 2023, declining domestic gas production, rising domestic demand, and the depletion of the Zohr field’s pressure have turned Egypt into a significant LNG importer. The Egypt Oil & Gas portal confirmed that Egypt imported approximately $4.9bn in natural gas and LNG in 2024 from Israel, the United States, Nigeria, Spain, Guinea, and France. Nigeria’s NLNG (Nigeria LNG Limited) — a joint venture between NNPC, Shell, TotalEnergies, and Eni — is one of Africa’s largest LNG producers. Egypt’s Foreign Minister Dr. Badr Abdelatty explicitly cited Nigeria’s 2023 export of $160m in LNG to Egypt as a positive example of the bilateral relationship at the Nigeria-Egypt Business Forum in July 2025.
Egypt’s non-fuel exports to Nigeria are significant and diversified. Salt, Sulphur, Cement, Lime and Plaster (Ch. 25) has grown from $16.6m (2021) to $70.1m (2024) — the most consistent high-value growth trajectory in the bilateral import basket. Egyptian cement and construction materials are flowing into Nigeria’s construction and infrastructure market at scale. Electrical Machinery, Plastics, Sugars, Organic Chemicals, Perfumery, and Copper Articles round out a genuinely diversified industrial export basket from Africa’s most industrialised North African economy.
The corridor is structurally underbuilt relative to the two economies’ combined weight. Together, Nigeria and Egypt account for two of Africa’s top four economies by GDP. Nigeria’s Foreign Minister Amb. Yusuf Tuggar acknowledged at the July 2025 Business Forum that bilateral trade at $211.2m in 2023 was far below potential, and called for diversification of the trade relationship. Both countries are members of the D-8 bloc (Developing-8), which has set an intra-bloc trade target of $500 billion by 2030.
The Nigeria–Egypt corridor is a corridor in structural transition. Three years of Nigerian deficit driven by Egyptian industrial exports were upended in 2024 by Nigeria’s LNG supply to Egypt’s energy-distressed gas market. The LNG corridor is commercially validated at the highest diplomatic level and strategically aligned with Egypt’s documented gas import dependency. The non-fuel bilateral exchange — Egyptian cement, chemicals, and food processing into Nigeria; Nigerian oil seeds, live plants, and coffee into Egypt — is real but thin relative to the economic potential of both countries. AfCFTA and D-8 provide the institutional framework; the constraint is supply chain development, not policy architecture.
Key findings
Nigeria's trade deficit with Egypt significantly narrowed in 2024 due to LNG exports.
From a persistent deficit of $163–188m annually between 2021-2023, Nigeria's deficit compressed to $33.5m in 2024, primarily driven by a $153.1m mineral fuels export to Egypt.
Nigerian LNG has become a crucial supply for Egypt's energy needs.
Egypt, transitioning from a net gas exporter to a significant importer due to declining domestic production, imported approximately $4.9bn in natural gas and LNG in 2024, with Nigeria being a key supplier.
Egypt's exports to Nigeria are diversified and industrially grounded.
Leading categories include Salt, Sulphur, Cement, Lime, Stone & Plaster ($70.1m in 2024, growing 322% in four years), Electrical Machinery ($29.6m), and stable volumes of Sugars and Mineral Fuels.
The bilateral trade volume remains far below potential.
Despite Nigeria and Egypt being two of Africa's top economies, total bilateral trade was $211.2m in 2023, acknowledging the need for diversification and growth within frameworks like D-8 and AfCFTA.
Egypt's currency devaluation has made its exports more competitive in Nigeria.
The nearly 40% depreciation of the Egyptian pound against the USD in early 2024 made Egyptian goods, including cement, chemicals, and food products, more price-competitive in the Nigerian market.
Nigeria's non-fuel exports to Egypt are led by agricultural commodities.
Oil Seeds, Oleaginous Fruits & Fodder grew from $2.9m (2021) to $8.8m (2024), and Live Trees, Plants, Bulbs, Cut Flowers ($2m) are consistent non-fuel exports.
The completion of NLNG Train 7 is expected to further boost Nigeria's LNG export capacity.
With Train 7, currently 80% complete, projected to add approximately 8 MTPA to NLNG's existing 22 MTPA capacity, Nigeria is well-positioned to meet Egypt's growing LNG import demand.
A bilateral energy cooperation agreement is a priority action for formalizing the LNG supply.
Formalizing the LNG supply arrangement would provide contractual certainty for both NLNG and Egypt's FSRUs, transforming an episodic commercial relationship into a structural energy supply corridor.
| Product (HS Chapter) | 2021 | 2022 | 2023 | 2024 | Pattern |
|---|---|---|---|---|---|
| Mineral Fuels, Oils, Waxes & Distillates (Ch. 27) | $0 | $0 | $0 | 153,100,000 | 2024 new entry — LNG to Egypt |
| Oil Seeds, Oleaginous Fruits & Fodder (Ch. 12) | 2,900,000 | 763,855 | 4,100,000 | 8,800,000 | Persistent all 4 yrs; strong 2024 |
| Machinery, Mech. Appliances & Parts (Ch. 84) | 479,871 | $0 | 31,943 | 4,400,000 | Episodic; surged 2024 |
| Live Trees, Plants, Bulbs, Cut Flowers (Ch. 06) | 582,877 | 478,955 | 3,800,000 | 2,000,000 | Persistent all 4 yrs; volatile |
| Glass & Glassware (Ch. 70) | 614,171 | 882,078 | 322,313 | 1,600,000 | Persistent all 4 yrs; growing |
| Coffee, Tea, Mate & Spices (Ch. 09) | 3,400,000 | 1,100,000 | 2,000,000 | 600,901 | Persistent all 4 yrs; declining |
| Product | 2021 ($M) | 2022 ($M) | 2023 ($M) | 2024 ($M) | Status |
|---|---|---|---|---|---|
| Salt, Sulphur, Cement, Lime, Stone & Plaster (Ch. 25) | 16.6 | 27.5 | 54.8 | 70.1 | Structural anchor — all 4 yrs, strong growth |
| Electrical Machinery & Electronics (Ch. 85) | 5.8 | $0 | 12.2 | 29.6 | Persistent 3 yrs; surging 2024 |
| Mineral Fuels, Oils, Waxes & Distillates (Ch. 27) | 9 | 7 | 7.9 | 15 | Persistent all 4 yrs; growing |
| Sugars & Confectioneries (Ch. 17) | 8.7 | 8.8 | 9.1 | 9.9 | Persistent all 4 yrs; stable |
| Plastics & Articles Thereof (Ch. 39) | 19.3 | 16.9 | 17.3 | 9.6 | Persistent all 4 yrs; declining |
| Products of the Milling Industry (Ch. 11) | $0 | $0 | $0 | 9 | 2024 new entry; significant |
| Stone, Plaster, Cement, Asbestos, Mica (Ch. 68) | 6.8 | 7.6 | 9.2 | 8.3 | Persistent all 4 yrs; growing |
| Dimension | Assessment |
|---|---|
| Relationship type | Historically: Nigeria deficit (Egyptian manufactured goods flow south). 2024: LNG corridor partially reverses balance. Structural transition in progress. |
| Nigeria export anchors | Mineral Fuels/LNG ($153.1m, 2024 only so far); Oil Seeds ($8.8m, growing all 4 yrs); Live Plants ($2m, persistent); Glass ($1.6m, growing) |
| Egypt export anchors | Cement/Salt/Construction ($70.1m, strongest 4-yr growth); Electrical Machinery ($29.6m, surging); Mineral Fuels ($15m, persistent); Sugars ($9.9m, stable); Plastics ($9.6m, declining) |
| Trade balance | Nigeria deficit all 4 years: $33.5m (2024 — narrowed) to $187.5m (2023 — widest). LNG transformed 2024 dynamics. |
| LNG corridor status | Bilaterally confirmed at diplomatic level (Egypt FM July 2025); NLNG supplier; Egypt LNG imports $4.9bn in 2024 from multiple sources including Nigeria |
| D-8 framework | Both members of D-8 (Developing-8) bloc; intra-D-8 trade target $500bn by 2030; bilateral total $315m in 2024 (Egypt FM) |
| AfCFTA | Both signatories; identified by Nigeria FM Tuggar as key framework for bilateral development |
| Combined GDP | Nigeria ($252bn) + Egypt ($347bn) = two of Africa’s top 3 economies (IMF 2024); bilateral trade vastly below potential |
| Naira/pound effect | Nigerian naira devaluation and Egyptian pound devaluation (March 2024: ~40% depreciation) both affect USD-denominated bilateral figures |
| Forward LNG signal | NLNG Train 7 ($10bn, 80% complete) will expand Nigerian LNG capacity; Egypt’s energy crisis is deepening — both forces support LNG corridor expansion |
BILATERAL TRADE SNAPSHOT
The corridor’s 2021–2023 trajectory is one of a persistent Nigerian deficit, with Egypt consistently supplying $168–200m in manufactured goods to Nigeria while Nigerian exports remained at $4.3–12.2m — primarily agricultural commodities, live plants, coffee, oil seeds, and glass. This three-year pattern established the structural baseline of the corridor: Egypt as an industrialised supplier, Nigeria as a commodities and consumer goods recipient, with a deficit of $163–188m annually.
The 2024 transformation is driven entirely by the $153.1m mineral fuels export from Nigeria to Egypt — almost certainly LNG supplied through Nigeria LNG Limited (NLNG) to Egypt’s gas-distressed domestic market. The diplomatic confirmation of this relationship came at the Nigeria-Egypt Business Forum in July 2025, where Egypt’s Foreign Minister cited Nigeria’s 2023 export of $160m in LNG as a positive precedent — a figure that aligns closely with the 2024 BACI-recorded $153.1m. The timing discrepancy (Egypt’s minister cited 2023; BACI shows 2024) may reflect the lag between NLNG shipment contracts and customs recording.
Egypt’s exports to Nigeria continued growing to $205.3m in 2024 — their highest in the four-year period — led by Salt/Cement ($70.1m, a record), Electrical Machinery ($29.6m), and a diversified basket of chemicals, food products, and plastics. The bilateral deficit has thus narrowed dramatically — from $187.5m to $33.5m — but has not yet turned to surplus for Nigeria.
Nigeria’s Foreign Minister Amb. Yusuf Tuggar confirmed at the July 2025 Nigeria-Egypt Business Forum that bilateral trade stood at $211.2m in 2023, with Nigeria’s exports at only $12.2m. Egypt’s Foreign Minister Dr. Badr Abdelatty cited Nigeria’s $160m LNG export to Egypt in 2023 as evidence of complementarity — both statements from the same event, both confirm the LNG corridor’s diplomatic recognition and operational reality.
EXPORT PROFILE
The 2024 LNG Export: Cause and Commercial Context
IMPORT PROFILE
Egypt’s export basket to Nigeria is commercially sophisticated and industrially grounded, reflecting Egypt’s status as Africa’s most industrialised manufacturing economy in North Africa. The dominant and fastest-growing category is Salt, Sulphur, Cement, Lime, Stone and Plaster (Ch. 25), which has grown every single year from $16.6m (2021) to $27.5m (2022) to $54.8m (2023) to $70.1m (2024) — a 322% four-year increase. This is Egyptian cement flowing into Nigeria’s construction and infrastructure market at structural scale. Egypt’s cement industry is among the largest in Africa and the Middle East; producers including Suez Cement (Heidelberg Materials), Cemex Egypt, and Lafarge Egypt have significant production surplus capacity that finds export markets in sub-Saharan Africa including Nigeria.
About the Nigerian Macro Monitor
The Nigeria Macro Monitor is a macroeconomic intelligence platform that consolidates key Nigerian economic indicators into a single, structured environment — built by SysIN Insights Products.
BILATERAL RELATIONSHIP ASSESSMENT
The Trade Imbalance: Structural Causes and Forward Resolution
STRUCTURAL CONTEXT
Egypt: Economic Profile
OUR ASSESSMENT
On the Trajectory (2025–2027 Outlook)
Frequently asked questions
How has the trade balance between Nigeria and Egypt changed recently?
The trade balance underwent a dramatic structural reversal between 2023 and 2024. Nigeria previously ran a significant deficit, but a $153.1m export of Mineral Fuels (likely LNG) from Nigeria to Egypt in 2024 transformed the deficit from $187.5m (2023) to $33.5m (2024), shifting towards near-parity.
What is driving the increased Nigerian exports to Egypt?
The primary driver is Nigeria's export of Liquefied Natural Gas (LNG) to Egypt. Egypt has become an LNG importer due to declining domestic gas production and rising demand, creating a significant market for Nigerian NLNG, which saw a $153.1m entry in mineral fuels in 2024.
What are Egypt's main exports to Nigeria?
Egypt's main exports to Nigeria are commercially sophisticated and industrially grounded. The fastest-growing category is Salt, Sulphur, Cement, Lime, Stone and Plaster, reaching $70.1m in 2024. Other significant exports include Electrical Machinery & Electronics, Sugars, Mineral Fuels (likely refined products), and Plastics.
What is the role of NLNG Train 7 in the future of Nigeria-Egypt trade?
NLNG Train 7, currently 80% complete, is a $10bn expansion project that will add approximately 8 MTPA of additional LNG capacity to Nigeria's existing 22 MTPA. This increased capacity is expected to significantly boost Nigeria's ability to meet Egypt's growing LNG import demand, potentially leading to a Nigerian trade surplus by 2026 if volumes are maintained and expanded.
What institutional frameworks support trade between Nigeria and Egypt?
Both Nigeria and Egypt are members of the D-8 bloc (Developing-8), which aims to increase intra-bloc trade to $500 billion by 2030. Both countries are also signatories to the AfCFTA (African Continental Free Trade Area) Agreement, which provides a framework for bilateral development and tariff reduction systems.