Nigeria’s raw materials imports rise to $5.65bn

Imports of raw materials into Nigeria rose to $5.65bn (N2.32tn) last year amid the COVID-19 pandemic from N1.34tn in 2019, according to data from the Nigerian Bureau of Statistics.
 
The NBS said in its latest Foreign Trade Statistics report that the value of total trade in raw material stood at N762.6bn in the fourth quarter of 2020. It said the import component was valued at N715.7bn while the export component stood at N46.9bn…
 
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