Nigeria’s Imports From China Rise By 183.91%   Nigeria’s import from China rose by 183.91 per cent from N530.98bn in the first quarter of 2018 to N1.51tn in Q1 2022. According to the National Bureau of Statistics (NBS) data on foreign trade, China is responsible for most...

Nigerians Spent N74bn To Import Motorcycles In Q1, 2022   As the Lagos State Government clamps down on commercial motorcyclists and while some states try to regulate their activities, the National Bureau of Statistics (NBS) has said N74 billion was used to import motorcycles in the...

Nigerian Paper Mills Collapse, Imports Hit N297bn In Six Months   Nigerian paper mills have collapsed years after privatisation, forcing the economy to depend on imported paper for its needs. According to data from the National Bureau of Statistics data, Nigeria imported paper and its allied products...

Despite Forex Shortage, Nigeria’s Imports Increase By N12.11trn   According to the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) data, Between 2016 and 2021 Nigeria’s import bill rose from N8.73trn to of N20.84trn. This implies that within the five-year period, imports...

Customs, CBN Clash Over E-valuation Of Imports, Exports   The Nigerian Customs Service has refuted media reports which claimed that the service has adopted the e-evaluator and e-invoicing for importers and exporters introduced by the Central Bank of Nigeria. In a statement released on Thursday via the...

Nigeria Spends N1.5trn On Raw Materials Imports In Six Months   Nigeria imported raw materials worth N1.51 trillion in the first six months of 2021 (H1 2021). A breakdown in the Foreign Trade Statistics of the National Bureau of Statistics (NBS) revealed that importation of raw materials...