Foreign Trade

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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,…

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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…

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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…

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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…

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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…