Nigeria's export crisis: How we are spending more than we earn
Trade collapse. Source: Stears Business

In 2020, Nigeria’s imports were over ₦7 trillion more than its exports. To put that in context, in 2012, Nigeria’s exports exceeded its imports by ₦16 trillion. In fact, Nigeria is known for running current account surpluses (where exports are higher than imports)—that is one of the few benefits of being an oil-exporting nation.

Even with Nigeria’s supposed import fetish, it is

This story is only available to Premium subscribers Subscribe or sign in to finish reading

Not ready to subscribe? Register to read a selection of free stories

Michael Famoroti

Michael Famoroti

Read Latest

How Nigeria’s lawmakers enabled its fiscal crisis

PREMIUM - 03 FEB 2023

3 risks for Nigeria’s investors in 2023

PREMIUM - 02 FEB 2023

Why Nigerians abroad cannot vote during elections

PREMIUM - 01 FEB 2023

Will Ibom Power’s new license improve Akwa Ibom's electricity?

PREMIUM - 31 JAN 2023

Download our mobile app for a more immersive reading experience

Scan QR code
mobile download