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Export Intervention Loans Rise By N44bn
In statements released in the last Monetary Policy Committee meeting in 2022, the Central Bank of Nigeria’s intervention funds under its Export Facilitation Initiative rose to N44.58 billon in October 2022. It said, “Under the Export Facilitation Initiative, the Bank provided support for export-oriented projects to the tune of N5.34 billion, such that the cumulative…
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Nigeria National Petroleum Commission Bulletin(Statistics)
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China to Nigeria : Imports Rise By 183.91%, Debts Hit $3.67bn
According to the National Bureau of Statistics data on foreign trade, Nigeria’s import from China rose by 183.91 percent from N530.98 billion in the first quarter of 2018 to N1.51tn in Q1 2022. NBS said China is responsible for most of the imports into Nigeria. In the five quarters under review, China was the number…
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Nigeria Imports N143bn Solid Minerals In Nine Months
From January to September 2021, Nigeria imported solid minerals worth N143.1bn. This is according to data collated from the National Bureau of Statistics which showed that the country exported N42.5bn solid minerals in the nine-month period, less than 30 percent of what it imported. It said, “The total value of trade in solid mineral goods…
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Nigeria Might Lose $34bn In Annual Export Earnings
Nigeria risks losing $34.3 billion in its annual export earnings, a new study by Standard Chartered has said. The study said the loss is inevitable if the country does not cut carbon emissions in line with the net-zero plans of the biggest multinational companies operating in the country. The study, titled ‘Carbon Dated’, was…
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Customs Revenue Hits N466.1billion In 3 Months
The Nigeria Customs Service has generated N466.1 billion revenue between January and March, the first quarter of 2021. The statistics obtained from the office of the Public Relations Officer of the service, Mr Joseph Attah, yesterday, showed that the revenue was generated within three months. The data indicated that the NCS realized the highest revenue…
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Foreign Countries Tops Nigeria Import, Export Market
In the fourth quarter of 2020, Nigeria’s major export and import markets were from India, Spain, the Netherlands, United States and China, the National Bureau of Statistics has said. According to the Commodity Price Indices and Terms of Trade Q4 2020, the bureau stated that the major commodities exported from Nigeria to the five nations…
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Nigeria Plans $50bn Intra-Africa Exports
As part of an effort to boost the African economy, the National Action Committee on African Continental Free Trade Area Agreement has disclosed plans to grow its intra-Africa export trade volume to $50billion by 2035. The Senior Special Assistant to the President and Secretary, National Action Committee on AfCTA, Francis Anatogu, made this disclosure stated…