Debt Servicing Gulps $2.2bn in Five Months – CBN Nigeria’s debt servicing gulped about N2.2bn in the first five months of this year, the latest data from the Central Bank of Nigeria (CBN) have revealed. This is almost half of the $4.8bn projected for the entire...

Motorcycle Imports Surge by 204% in Q1 2024 Data from the National Bureau of Statistics (NBS) reveal Nigeria recorded N117.4 billion as import cost for motorcycles in the first quarter of 2024. The figure represents a 204% increase from the N38.6 billion recorded in the same...

Food, Beverage Import Bill Rises to N1.59trn in Q1 2024 – NBS Nigeria’s food and beverage import bill increased by 30% from N 1.21 trillion in the fourth quarter of 2023 to N1.59 trillion in the first three months of 2024. This is according to the...

Expenditure on Fuel Import Increases by 46% in Q1 2024 Nigeria’s expenditure on fuel soared to N2.6 trillion in the first quarter of 2024, representing a 46% increase from the fourth quarter of 2023. This data comes from the latest foreign trade report by the National...

Nigeria’s Trade Surplus Hits N6.52 trillion in Q1 2024 Nigeria’s foreign trade statistics report for the first quarter of 2024 reveals a significant trade surplus of N6.52 trillion. This is a significant recovery from the N1.41 trillion trade deficit recorded in the previous quarter (Q4 2023)...

The Federal Ministry of Marine and Blue Economy has reported an increase in revenue for the first quarter of 2024, with N242 billion compared to N126 billion recorded in the same period in 2023, indicating an increase of 92 per cent.