Nigeria’s total import from Malta rose was N766.81 billion in the third quarter of 2024, according to an analysis of the foreign trade statistics reports released by the National Bureau of Statistics (NBS).
The total foreign capital inflows to Nigeria from African investors (excluding Nigerian contributions) accounted for 19.45% of the total capital importation in the second quarter of 2024.
Imported food inflation in Nigeria rose to its highest level, reaching 29.8% in February 2024 from 26.3% recorded in the previous month, which represents a 352 basis points increase.
Shuaibu Audu, the Minister of Steel Development, has stated that Nigeria imports steel valued at $4 billion dollars every year.
Nigeria’s capital importation has crashed by 43.55% in Q3 2023, defying efforts of Tinubu's administration to attract investments.
The Federal Government (FG) has postponed the date scheduled for the nation to stop the importation of petrol from 2019 to 2023.
Total capital importation into the Nigerian economy grew 35% y/y to US$8.5bn in Q1 2019, representing the highest quarterly inflow since Q3 2014 (US$12.2bn).
The latest trade data recently released by the National Bureau of Statistics (NBS), contains some interesting information about the products that were imported and exported by Nigeria during the first quarter of 2019.
Efforts by the Government to curb importation of sugar has failed as report shows that Nigeria currently spends N57.2 billion on sugar importation.
Although Nigeria is regarded as the number one producer of Cowpea (beans) in the world, it has been revealed that the country spends an estimated N16 billion annually for beans importation from neighbouring countries.
Data for the four quarters in 2018, as previously released by the National Bureau of Statistics (NBS), shows that the country imported a total of 20.14 billion litres of PMS last year.
The Federal Ministry of Finance recently issued an addendum to the 2017 Revised Import Guidelines, Procedures and Documentation...
