Nigeria’s all products terms of trade (TOT) indices for April, May and June 2018 stood at 100.5, 111.1 and 109.2 respectively, indicating favourable TOT for all the months of the second quarter (Q2), the National Bureau of Statistics (NBS) has stated.

NBS stated that the data meant that the country used 0.5, 11.1 and 9.05 per cent less of her exports to procure the same level of imports in the months under review.


The product groups that contributed most to the positive trade positions during the review period were mineral products, wood and articles of wood, wood charcoal and articles, live animals; animal products, and vegetable products.

According to the Commodity Price Indices and Terms of Trade report for Q2, released yesterday, Belgium, China, Spain, the Netherlands and India constituted Nigeria’s top five trading partner countries within the period.

The major Nigerian export to Belgium during the quarter was other petroleum gases valued at N11.7 billion, followed by good fermented cocoa beans (N474 million), frozen shrimps (N453.5 million) and other meals and pellets of crutacean (N53.9 million).

On the import side, Nigeria imported petrol worth N117.6 billion, gas oil valued at N20.6 billion, malt (N4.1 billion), polyethylene (N2.0 billion) and other polyethers (N1.6billion) from Belgium.

The statistical agency noted that all region group export index recorded an increase of 2.3 per cent in February, a decline of 1.3 per cent in April.

The index reversed with a decrease of 0.3 per cent in May but increased again in June by 1.4 per cent.
It further stated that the all commodity group import price index rose by two per cent driven by miscellaneous manufactured articles.

It said the all commodity group export price index rose by 11 per cent driven by mineral products, wood products, live animals and vegetable products.

The major export to the countries was crude petroleum and natural gas while the major import from these countries was motor spirit (ordinary).

https://www.akelicious.net/2018/09/nbs-nigeria-recorded-favourable-trade.html

Since the inception of this government, the best of our progress and achievements are on paper no concurrent practical manifestation :-/

To what end? How has it impacted on the life of the average Nigerian? Economic gains has to have effect on the people's standard of living to be meaningful.

So how much is the dollar?

Buhari is working,
Buhari till 2023.
Buhari is the best president till 2023.
The first time in the history of Nigeria to have favourable terms of trade.
The jobless aggressive lazy idiotic pigs of bia-fra terrorist will not like this achievement.

elnath:
To what end? How has it impacted on the life of the average Nigerian? Economic gains has to have effect on the people's standard of living to be meaningful.

it will have impact in your life if you are not jobless aggressive lazy terrorist.

The product groups that contributed most to the positive trade positions during the review period were mineral products, wood and articles of wood, wood charcoal and articles, live animals; animal products, and vegetable products.

According to the Commodity Price Indices and Terms of Trade report for Q2, released yesterday, Belgium, China, Spain, the Netherlands and India constituted Nigeria’s top five trading partner countries within the period.

The major Nigerian export to Belgium during the quarter was other petroleum gases valued at N11.7 billion, followed by good fermented cocoa beans (N474 million), frozen shrimps (N453.5 million) and other meals and pellets of crutacean (N53.9 million).

On the import side, Nigeria imported petrol worth N117.6 billion, gas oil valued at N20.6 billion, malt (N4.1 billion), polyethylene (N2.0 billion) and other polyethers (N1.6billion) from Belgium.

Not bad...I can see we are exporting more stuff other than oil.

The problem though is the petrol we are importing....N117.6 bn. More motivation for us to improve our oil sector.

buhariguy:
it will have impact in your life if you are not jobless aggressive lazy terrorist.

I am afraid the person you quoted is right.

Positive balance of trade, while good, does nothing for the average Nigerian (except those who have jobs related to the aforementioned exporting branches).

We need to be a job creating economy....via deregulation of the oil sector, improving power, and transport.

elnath:
To what end? How has it impacted on the life of the average Nigerian? Economic gains has to have effect on the people's standard of living to be meaningful.

In fact, that is why they are called economic gains and not losses. It has positive impacts on the people, but mostly such impacts are gradual and long term.
You might remember that the Nigerian economy did not suddenly become bad overnight. It took years /decades of mismanagement. It might take even more to revive it completely.

buhariguy:
it will have impact in your life if you are not jobless aggressive lazy terrorist.

someone aired his honest opinion and all you can do is to talk him down? The economy is growing on paper but there's little or no effect on the masses. Take for example the issue of minimum wage which is long overdue but the gov't is still dragging feet.

With external debts sky-rocketting.

elnath:
To what end? How has it impacted on the life of the average Nigerian? Economic gains has to have effect on the people's standard of living to be meaningful.

But if it is deficit, Buhari has failed. Appreciate this govt sometimes

President Muhammadu Buhari is working.
Seriously Nigeria needs him for another term to ensure sustainability of development, progress and war against corruption.

May Buhari Succeed
May Nigeria become greater

theoldpretender:


I am afraid the person you quoted is right.

Positive balance of trade, while good, does nothing for the average Nigerian (except those who have jobs related to the aforementioned exporting branches).

We need to be a job creating economy....via deregulation of the oil sector, improving power, and transport.

i reply him base on, if he was not lazy, he should be contributing to our export level by going into farming instead of complaining and he will not feel the impact if he is aggressively lazy and jobless.

If u are planning to work or vote 4 these recycling empty old brains in @PDP or @APC in 2019 general election, know now that u are d Satan in ur life, u are d chain holding u down, u should be casting & binding ur self in prayers and if you die 4 @APC or @PDP May u not rest in peace since u are so stupid not to know that these old men gives u nothing but take from u everything.

..............

elnath:
To what end? How has it impacted on the life of the average Nigerian? Economic gains has to have effect on the people's standard of living to be meaningful.

people like you will keep complaining while others soar. If the statistic was negative, I'm sure you would have celebrated It here . Negativity is a disservice to oneself

buhariguy:
i reply him base on, if he was not lazy, he should be contributing to our export level by going into farming instead of complaining and he will not feel the impact if he is aggressively lazy and jobless.

Is it not funny that they expect the government to enter their rooms are make them feel the impact of a growing economy. Indeed a lot of our youths especially the male folks are lazy whining lifeless OLODO who rather than seek opportunities are waiting to be spoonfed.

Nice

This is wonderful Economic indices and good news.

The only part of the report that call for serious concern is:

"On the import side, Nigeria imported petrol worth N117.6 billion, gas oil valued at N20.6 billion, malt (N4.1 billion), polyethylene (N2.0 billion) and other polyethers (N1.6billion) from Belgium."

It will be much better for us if issues regards refineries in Nigeria is sorted, so there will be no need of exporting our crude to later import petrol at higher cost.

Make Dangote Refinery in Ibeju-Lekki start on time.

This just ja ra o.

To invest in landed properties (wonderful Estates) within and around Ibeju-Lekki axis, I'm at your service. Ibeju-Lekki is a goal and it's going to be great.

God bless Nigeria.

Impressive trade results, but the government has to do something about oil importation, its killing our economy.

elnath:
To what end? How has it impacted on the life of the average Nigerian? Economic gains has to have effect on the people's standard of living to be meaningful.

It can not impact you positively. When you spend the better part of your life on social media. Your mates are embracing Agriculture and then smiling to the bank.

Gliding:


In fact, that is why they are called economic gains and not losses. It has positive impacts on the people, but mostly such impacts are gradual and long term.
You might remember that the Nigerian economy did not suddenly become bad overnight. It took years /decades of mismanagement. It might take even more to revive it completely.

A guy with sense.... You said the truth...