Nigeria’s foreign trade

Nigeria's foreign trade in the first quarter of this year (Q1, 2023) declined 17.5 percent to N12.05 trillion from N14.6 trillion recorded in 2022, the latest data released by the National Bureau of Statistics (NBS) has shown. Despite…

Nigeria's total merchandise trade has dropped by N1.24tn, from N12.84tn in the second quarter of 2022 to N11.59tn in the third quarter of 2022.

A total N4,007.4 billion imports drove the value of Nigeria’s foreign trade in the second quarter of the year, pushing it to N8,603.4 billion for the period. Imports was 46.6 percent while exports accounted for 53.4 percent or N4,596.2…