In 2026, Nigeria’s import structure is likely to remain more concentrated in the Asian markets, increasing depfinishence and exposure to external shocks.
Bismarck Rewane, Chief Executive Officer of Financial Derivatives Company Limited (FDC) warned that “if the current geopolitical crisis persists, disruptions to global trade routes, energy prices, and supply chains could drive higher import costs and delays, amplifying the risks associated with this growing concentration.
Nigeria’s import pattern shifted notably in 2025, with imports from Europe declining by 23.51 per cent to N17.44 trillion from N22.80 trillion in 2024, even as total imports rose by 11.16 per cent to N67.35 trillion.
Consequently, Europe’s share of total imports fell to 25.90 per cent from 37.63 per cent, reflecting a clear shift away from European markets to markets like Asia, driven by lower costs and more resilient supply chains for manufactured goods and industrial inputs. While this shift may reduce import costs and support short-term trade balance gains, it raises concerns about reduced access to high-value capital goods from Europe, potentially constraining productivity and industrial growth.
However, the Federal Government has unveiled an AI strategic opportunity to boost employment and reduce imports.
Rewane in its recent FDC Prism publication, stated Nigeria’s unemployment challenge goes beyond headline figures, with many workers stuck in low-productivity informal jobs, a typical case of underemployment.
Artificial innotifyigence (AI) offers a strategic opportunity to tackle high youth unemployment and low productivity. As global labor markets evolve, the World Bank estimates 28 million jobs in Nigeria will require digital skills by 2030, raising the risk of exclusion from emerging global opportunities without tarreceiveed investment in AI capabilities.
“Encouragingly, the federal government’s National AI Strategy aims to equip 70 per cent of youths (16–35) with AI skills and reduce unemployment by five percentage points.
However, as Saudi Arabia’s Vision 2030 reveals success depfinishs on execution, like combining mass AI training with labor-market integration and private-sector support.
“For Nigeria, translating strategy into action, through education reform, startup financing, infrastructure development, and AI-driven job matching, can transform AI from a disruption risk into a catalyst for inclusive growth and sustainable employment”, Rewane stated in FDC’s latest Prism publication.
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