Food Imports Rise By 122% As Deficit Hits N4.9trn   Despite continuous government efforts to shore up food production in Nigeria through various intervention programmes, the country recorded foods trade deficit worth N4.92 trillion between 2018 and 2022. Available data shows that Nigeria is not growing enough...

Wheat Price Rises By 50% As Import Drops   The price of durum wheat has risen by 50 per cent since the start of 2022 and its importation has fallen by 16.09 per cent. This is because of the global scarcity of wheat caused by the Russian-Ukraine...

Raw Materials Import Declines By 22.36% To N1.88trn - NBS   Manufacturers spent N1.88tn on raw materials import in nine months, foreign trade reports of the National Bureau of Statistics (NBS) have shown. The Q1-Q3 foreign trade reports indicated that manufacturers imported raw materials worth N1.88 bn...

Nigeria’s Import From Russia Plunges By 92%   Nigeria’s import from Russia has crashed significantly, hitting its lowest this year, as the war in Ukraine persists. The foreign trade report of the National Bureau of Statistics for the third quarter of 2022 released last week showed that...

Nigeria Imports N512bn Of Agricultural Produce In Q3, 2022   The value of agricultural imports in Nigeria has increased to N512.91bn, the National Bureau of Statistics (NBS) has disclosed. The NBS in a report released yesterday stated that the figure was an increase of 10.44 per cent...

Despite Ukraine War, Nigeria’s Russian Imports Increase By 143%   Amid the attacks on Ukraine, Nigeria has increased its imports from Russia by 143.21 per cent, according to the foreign trade report of the National Bureau of Statistics for the second quarter of 2022. It was observed...