NBS Confirms N18.12trn Imports In Seven Years

The Nigerian Foreign Trade (NFT) reports of the National Bureau of Statistics (NBS) from 2016 to 2022 have shown that the citizens imported no fewer than 10 items worth N18.12trillion during the period.
The items included crude palm oil, vegetable products, animal products, meat, vegetable fats and oil, steel products, rubber, plastic, clothes, and textiles were imported from various countries.
The reports showed that crude palm oil got a total of N283.8billion in seven years, with N39.5billion spent in 2017, N20.2billion in 2018, N19.1billion in 2019, N134.8billion in 2021 and N70.2billion in 2022.
However, the item didn’t record any transactions in 2016 and 2020.
Vegetable products got N4.8trillion with N283.2billion spent in 2016, N295.8billion in 2017, N407.6billion in 2018, N443billion in 2019, N1.1trillion in 2020, N945.4billion in 2021, and N1.3trillion in 2022.
Animal products recorded trade of N3.3trillion with N664.3billion imported in 2016, N190.9billion in 2017, N365.3bn in 2018, N221billion in 2019, N793.5billion in 2020, N485.8billion in 2021 and N549.6billion in 2022.
Mackerel meat recorded a total of N491billion with N11.2billion in 2016, N27.5billion in 2017, N239.5billion in 2018, N37.92billion in 2019, N62.73billion in 2020, N95.3billion in 2021, and N17.1billion in 2022.
The blue whiting’s frozen meat recorded N204billion with N10.5billion worth of goods imported in 2017, N15.2billion in 2018, N21.86billion in 2019, N49.6billion in 2020, N65.5billion in 2021, and 41.5billion in 2022.
The product, however, didn’t record any purchases in 2016.
Imported vegetable fats and oil goods got a total of N2.1trillion with N35.5billion spent in 2016, N954.4billion in 2017, N72.9billion in 2018, N62.1billion in 2019, N482.3billion in 2020, N292.6billion in 2021 and N165.9billion in 2022.
Others, like steel products, other types of fish and clothes, recorded single transactions in 2017, 2020, and 2021 with N31.9billion, N24.6billion, and N62.75billion, respectively.
N5.15trillion was spent on rubber and plastic, while N1.67trillion was spent on textiles.
The data showed that the sum of N336.47billion was spent on importing rubbers and plastic in 2016, while N79.9billion was spent on importing textiles in the same period.
The figures from the NBS also revealed that in 2017, N405.47billion was spent on rubber and plastics imports, while N102.62billion was spent on importing textiles in the same year.
In 2018, N607.4billion was spent on rubber and plastic imports, while N166.24billion was spent on textile imports.
The NBS further revealed that in 2019, N536.77billion was spent on importing rubber and plastic, while N174.97billion was spent on importing textiles within this same year.
In 2020, a total of N1.46trillion was spent on importing rubber and plastic, which is N25.6billion more than the amount spent in 2021.
N416.71billion was also spent on textile imports in 2021.
The NBS also revealed that N367.68billion was spent on importing textiles in 2021, while N1.19trillion was spent on rubber and plastic in the same year.
In 2022, N482.06billion was spent on importing rubber and plastic, while N365.46billion was spent on importing textiles.