Tags : Importation

China to Nigeria :  Imports Rise By 183.91%, Debts Hit

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 […]Read More

‘FG Losing N2bn Monthly Over Import Fraud’

The Transparency Network Group has said the federal government may be losing at least N2 billion monthly due to wrong declaration, under the declaration of goods by importers and other fraudulent practices at the port. According to a statement issued in Abuja, the civil society noted that returning the Standards Organization of Nigeria to the […]Read More

Agric Import Rose To N532.4 Billion In Q4 2020

The value of imported agricultural goods rose to N532.39billion in the fourth quarter of 2020 from N503.4billion in the third quarter in the same year– a 5.75 percent increase. This was disclosed by the National Bureau of Statistics which also reported that the value of exported agricultural goods dropped to N55.77 billion in Q4, 2020 […]Read More

Petrol Imports Gulped N2.11tn In 2020

The amount spent on the importation of Premium Motor Spirit (petrol) rose to N2.11tn in 2020– a 17.54 percent increase against the previous year. According to the data obtained from the National Bureau of Statistics, the country spent N1.71tn on petrol imports in 2019, down from N2.95tn in 2018. The data also showed that petrol […]Read More

Nigeria Loses N800b Monthly To Poor Port Operation

The President Shippers Association of Lagos, Jonathan Nicole, has  said Nigeria loses over N800 billion monthly due to lack of 24-hour seaport operation – about N9.6 trillion lost in a year. According to Nicole, the Nigerian Customs Service (NCS)  generated almost N26 billion daily in the past from seaports but, “the figure has dropped because […]Read More

REPORT: 7 States Contributed to $1.4bn Capital Importation in Q3

With a 12.86 percent increase, when compared to the second quarter of 2020, the total value of importation into Nigeria in the third quarter stood at $1,461.49m as only seven states contributed to this increase. The National Bureau of Statistics published that the largest amount of capital importation received was through other investment, accounting for […]Read More