Foreign Trade

Trade between Nigeria and Russia valued at over $2 billion is at risk as the war between Russia and Ukraine intensifies. Nigeria also stands the risk of suffering from significant food shortages and uptick food inflationary pressure,…

Nigeria has recorded a surplus of $1.1 billion in foreign trade (Q4, 2021), as export value surpassed import bill for the first time since Q3 2019, representing 8 consecutive quarters of negative trade balance. This…

Latest report released by the National Bureau of Statistics (NBS) shows that Nigeria spent a total of N601.51 billion on the importation of motor vehicles in the first half of the year (H1, 2021). The NBS disclosed this in its…

Latest report by the National Bureau of Statistics (NBS) has revealed that Nigeria's total foreign trade was 6.99% higher in Q1, 2021 compared to Q4, 2020 and 14.13% higher than the value recorded in Q1, 2020. For the first…

In the fourth quarter of 2020, Nigeria's total merchandise trade stood at N9,120.2billion, representing 8.9% over the level recorded in the third quarter of 2020 but was 9.9% lower when compared to the fourth quarter of 2019. This is…