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Total Trade In Goods Increased To N12.02trn In Q2, NBS Confirms
Total merchandise trade increased by 23.28 per cent in Quarter Two (Q2, 2021) to N12.02trillion from N9.75trillion recorded in Q1, the National Bureau of Statistics (NBS) says.
The NBS said this, yesterday in Abuja in its “Foreign Trade in Goods Statistics, Q2, 2021”, adding that the increase was a result of the sharp increase in export value during the quarter under review.
According to the report, the export component of the trade was valued at N5.07trillion or 42.22 per cent, while import was valued at N6.95trillion or 57.78 per cent with trade balance deficit of N1.87trillion.
It said that crude oil, which was the major component of export trade, stood at N4.07trillion or 80.29 per cent of total export.
“This further shows a sharp increase of 111.32 per cent in crude oil value in Q2 compared to N1.92trillion recorded in Q1, while the non-crude oil export recorded N1trillion or 19.71 per cent of total export trade in Q2.”
In its products classification by sectors, the NBS said that total value of trade in agricultural goods in Q2 stood at N817.35billion, with the export component totaling N165.27billion while the import was valued at N652.08billion.
It added that top most of these exported agricultural products were good fermented Nigerian Cocoa beans exported mainly to Netherlands (N16.48billion), Malaysia (N9.32billion) and the United States of America (N8.41billion).
The NBS said that the total value of trade in solid mineral goods in Q2, stood at N63.68billion, with the export component of at N14.93billion while import was valued at N48.75billion.
According to it, the leading exported mineral products were cement exported to Niger Republic and Togo in values worth N3.12billion and N2.32billion.
For the manufactured goods sector, the value of trade stood at N4.51trillion representing 37.50 per cent of total trade.
It said that out of the figure, the export component accounted for N211.67billion while the import component was valued at N4.29trillion.
“The products that drove up manufactured products were vessels and other floating structures for breaking up, which was exported to Cameroon in the value worth N71.90billion.
“Vessels and other floating structures for breaking up were also exported to Spain and Equatorial Guinea in values worth N18.34billion and N6.26billion.
“In terms of manufactured imports, used vehicles were mainly imported from United States and Italy in values worth N33.78billion and N5.74billion.”
In the raw materials goods sector, total trade stood at N904.51billion with the import component valued at N840.50billion while the export component stood at N64.01billion.
The report said that import trade classified by region showed Asia as the leading partner with a record of N3.46trillion or 49.92 per cent with Europe with N2.30trillion or 33.16 per cent closely following.
Others are America with N869.1 billion, Africa N248.8billion and Oceania N58.1billion.
It added that out of the value recorded for Africa, import from ECOWAS countries accounted for N24.2billion.
It said that in its analysis of imports by country of origin, data showed that the majority of the goods imported during the quarter originated from China with value of N2.078trillion, followed by India with N570.01billion, Netherlands N557.16billion, United States N526.92billion.
The NBS said that export by section revealed that mineral products accounted for N4.63trillion or 91.29 per cent of total export trade.
“This was followed by vehicles, aircraft and parts, vessels at N141.73billion, vegetable products N92.80billion among others.
“In terms of regional trade, Nigeria exported most products to Asia (N1.84trillion), Europe (N1.82trillion), America (N806.81billion) and Africa (N584.11billion) while Oceania totaled N23.28billion with goods worth N363.3billion exported to ECOWAS.
“Analysis by country export trade showed that most goods were exported to India (N949.05billion or), Spain (N524.49billion), Canada (N355.60billion) and Netherlands (N298.29billion) and United States N256.63billion.”
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MAN Tasks Rivers, Bayelsa On Blue Economy
The 2025 annual general meeting (AGM) and conference of the Rivers/Bayelsa states chapter of the Manufacturers Association of Nigeria (MAN) has come to a close with a strong call for both states to drive the blue economy.
The communique just issued after the AGM pointed to what it called emerging prospects in fish processing, seaweed cultivation, ship repair, and marine technology.
The communique which also mentioned human capital gaps that must be filled through technical and vocational training that are aligned with modern industrial needs, said the blue economy represents a viable pathway for Nigeria’s industrialisation.
It said MAN and Arican Marine Environment Sustainability Initiative (AFMESI) have the capacity to unlock Nigeria’s blue economy sustainably and inclusively, but said the region required dedicated infrastructure upgrades, including roads, waterways, and power.
The communique was signed by Vincent Okuku (Chairman of Rivers/Bayelsa States Branch); Michael Nosa Agana (Branch Vice Chairman/Chairman AGM planning Committee); and Chibuzor Eze (Executive Secretary, Rivers/Bayelsa States Branch).
The resolutions said the future of the Niger Delta economy lies in diversification rather than dependence on extractive industries. “Technology and innovation, value addition and local processing, strategic infrastructure, and a skilled workforce are essential pillars for the future of manufacturing in the region.
“Governments in the region must intensify support for manufacturing activities. Various forms of collaboration across sectors should be actively encouraged.”
It specifically advised Bayelsa and Rivers States to fully develop and harness the blue economy as strategic gateways for sustainable growth; and called for cross-border partnerships with neighbouring states to enhance trade, security, and environmental management.”
The Rivers/Bayelsa States branch of MAN held its first (41st) AGM outside Port Harcourt for the first time, hosted by Bayelsa State Government at the Chief D.S.P. Alamieyeseigha Memorial Banquet Hall, with the theme: ‘Trade, Technology, and the Future of Manufacturing in the Niger Delta.’
In his welcome address, the chairman of the branch, Okuku, commended the Bayelsa State Government under the leadership of Gov Douye Diri for its efforts in industrial development, investment promotion, and strong partnership with the private sector.
He also acknowledged the Rivers State Government for its commitment to rehabilitating industrial clusters, improving access roads, and delivering key infrastructure.
He, however, expressed concern over persistent challenges such as high energy costs, unreliable electricity supply, weak transport systems, rising logistics expenses, multiple taxes and levies, inconsistent regulatory frameworks, and pressure from host communities, which continue to hinder manufacturing growth in both states.
The President of MAN, Francis Meshioye, noted that the Niger Delta, with its abundant resources and strategic location, holds vast potential for industrial expansion. He called for policy frameworks that promote local manufacturing, enhance trade, and attract investments to the region.
Goodwill messages were delivered by the Minister of the Federal Ministry of Regional Development, Abubakar Momoh, represented by Wasa Festus, Director of Community Development and Education. Another goodwill message was also presented by the Bayelsa State Commissioner for Trade, Industry and Investment, Ebieri Jones.
In his remarks, Gov Diri praised MAN for its contributions to Nigeria’s manufacturing sector, noting its resilience, innovation, and strategic role in national development. He stated that the conference theme aligns with his administration’s mantra of “Assured Prosperity.”
Gov Diri offered 24-hour service to manufacturers wishing to relocate to the state, and highlighted the State’s ongoing transformation through deliberate investment in infrastructure, security, and human capital aimed at positioning Bayelsa State as a hub for industrial growth, particularly in the blue economy, agriculture, and manufacturing.
He further noted that hosting the 41st AGM fulfilled a long-desired aspiration of the State following the successful 2024 MAN event in Port Harcourt, Rivers State. He officially declared the exhibition open.
News
NELFUND Warns Students Against Fake Loan Portal
The Nigerian Education Loan Fund has alerted the public to a fraudulent message circulating online, claiming that the NELFUND Student Loan Registration Portal is open.
The message directs applicants to a third-party link (http://gvly.xyz/Nelfund-Student-Loan, which NELFUND confirms is unauthorised and fraudulent.
In a post obtained from its X handle, yesterday, NELFUND urged students and the general public not to click on the link or provide any personal information, emphasising that the official loan registration portal is only accessible through the Fund’s verified channels.
The agency reminded applicants to exercise caution online and to report any suspicious links or communications claiming to be from NELFUND.
“Applicants are encouraged to always verify official announcements via NELFUND’s official website and social media channels,” NELFUND said.
This advisory comes as part of NELFUND’s ongoing efforts to safeguard students and ensure the integrity of the student loan application process.
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Eastern Port Police Boss Promises On Crime-Free Operations
The new Commissioner of Police Eastern, Ports Command, Mr Tijani Fatai has promised to ensure a crime- free ports operations in the zone.
He said effective policing will be mounted across the ports in the zone in tackling the high rate of community unrest, activities of port rats and other social vices.
Fatai while speaking to newsmen shortly after taking over as the 17th commissioner said he wants to be remembered as a peace maker during his tenure as Commissioner of Police in the Eastern Ports Command.
According to him,’’the community policing is the sure way of addressing most conflicts and other social vices bedeviling our society today and I will explore it to its fullest” .
The Commissioner also assured officers of the rank and file of improved welfare whoch he described as a cardinal objective of the present efforts of the Inspector General of Police (IGP).
He said,” the Inspector General of Police has sent me to assure you all of welfare, promotions as and when due,no officers particular rank and file will be left behind in the coming months.
Fatai before his recent posting was an operational officer,who spent most of his years with the Police Mobile Force (PMF) where he served as Unit Commander (UC) and Commander, PMF.
Before his redeployment as a Commissioner of Police,(CP), he was the Deputy Commissioner of Police, Operations, DCP, Operations, Lagos State Command.
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