Novel poly(2-(3-sulfo)benzoyl-1,4-phenylene)-block-polynaphthalimide (PSP-b-PI) copolymers were successfully synthesized by Ni(0)-catalyzed copolymerization of 2,5-dichloro-3'-sulfo-benzophenone and dichloro-terminated naphthalimide oligomer. The membranes exhibited a microphase-separated structure and good hydrolytic stability at 130 °C. They showed a fairly strong anisotropy of membrane swelling with much smaller in-plane swelling, but a rather weak anisotropy of proton conductivity. The membranes had a fairly high through-plane conductivity in water and even under low relative humidity. The PSP-b-PI copolymer with an IEC of 1.5 meq · g(-1) showed high PEFC performance due to the high through-plane conductivity.