Nigeria’s Import Bill Grows As Exports Remain Oil-Dependent

The National Bureau of Statistics says Nigeria’s trade balance in the third quarter of 2021 amounted to a deficit of N3,023.50 billion as the value of imports continued to outpace exports, <br />The deficit was an increase of 26.53% compared to the same period in 2020.<br />Total imports in the third quarter grew to N8,153.79 billion, showing an increase of 17.32% quarter on quarter and 51.47% on a year-on-year basis.