HomeTagsRaw Materials

Tag: Raw Materials

Nnaji: Development of High Quality Raw Materials Is Necessary For National Growth

Chief Uche Geoffrey Nnaji, the Minister Innovation, Science and Technology (FMIST), is urging stakeholders to collectively support the National Consultative Committee on Competitiveness in Raw Materials and Products Development in Nigeria.

NBS Report: Naira Crash Pushes Raw Material Imports To N3trn

NBS Report: Naira Crash Pushes Raw Material Imports To N3trn   Imports of raw materials into the country rose by 25 per cent to N3tn in 2023. This is according to the Foreign Trade Statistics data published by the National Bureau of Statistics (NBS). The major raw materials...

Manufacturers’ Raw Material Imports Hit N8trn In Three Years

Manufacturers’ Raw Material Imports Hit N8trn In Three Years   Manufacturers have spent at least N7.9tn to import raw materials in the past three years. According to manufacturers, the high raw materials imports bill is due to operators’ decision to source foreign exchange from the parallel market...

Nigeria’s Raw Material Imports Rise To N2.4trn

Nigeria’s Raw Material Imports Rise To N2.4trn   Nigeria spent at least N2.4tn to import raw materials from other countries in 2022, according to data collated from Foreign Trade Statistics of the National Bureau of Statistics (NBS). The data also showed that Nigeria exported raw materials to...

Raw Materials Import Declines By 22.36% To N1.88trn – NBS

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 Spends N1.5trn On Raw Materials Imports In Six Months

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...