₦airaland Forum

Leonardo4:
What is this one saying? It's clear you don't know the difference between the terms import and export

We import virtually everything, Nigeria is more of an importing nation, mostly all finished products and petrol

The cabal are purposely laying landmines for president Tinubu and I hope he's fired for this.

badoh:
You be mumu. Was it Tinubu that made such comment?

Bandirao:
oga honestly this is not true we export more than we import

I had to check. On an annual basis, you are right.

In the fourth quarter of 2023, Nigeria’s total trade stood at N26,801.95 billion. Exports were valued at N12,693.62 billion while imports amounted to N14,108.33 billion. On an annual basis, total trade was N71,880.01 billion, of which imports amounted to N35,917.62 billion, and exports were recorded at N35,962.39 billion.

Total exports in the quarter under review increased by 22.68% when compared to the amount recorded in the third quarter of 2023 (N10,346.60 billion) as well as by 99.60% compared to the corresponding quarter in 2022 (N6,359.61 billion). In the same vein, total imports increased by 56.04% compared to the value recorded in the third quarter of 2023 (N9,041.24 billion) and by 163.08% when compared to the value recorded in the corresponding quarter of 2022 (N5,362.83 billion).

The value of re-exports stood at N50.91 billion representing 0.40% of total exports. Details analysis on re-exports reveals that the top five re-export destinations were Malaysia, Cameroun, Italy, Ghana, and the Netherlands and the most re-exported commodity was ‘Vessels and other floating structures for breaking up. with N13.67 billion, ‘this was followed by Mechanically propelled vessels for the transport of goods, gross tonnage> 500 tonnes’ valued at N6.76 billion, ‘Other machinery of heading 84.30, not self-propelled’ amounting to N6.26 billion, Tugs and pusher craft. valued at 4.54 billion, and ‘Artificial filament tow of cellulose acetate’ valued at N2.42 billion.

Further analysis on fourth-quarter trade by partners shows that the top five export destinations in Q4, 2023 were the Netherlands with N1,910.47 billion or 15.05%, India with N1,101.47 billion or 8.68%, Spain with N1,030.09 billion or 8.11%, Canada with N907.64 billion or 7.15%, France with N799.77 billion or 6.30% of total exports. Altogether, exports to the top five countries amounted to 45.29% of the total value of exports. The largest exported product in the fourth quarter of 2023 was ‘Petroleum oils and oils obtained from bituminous minerals, crude’ valued at N10,310.70 billion representing 81.23%, this was followed by ‘Natural gas,’ with N1,015.84 billion accounting for 8.00%, and ‘Urea, whether or not in aqueous solution’ with N251.90 billion or 1.98% of total exports.

In terms of Imports (CIF), the top five trading partners were Singapore with goods valued at N5,092.36 billion or 36.09%, China with N2,060.59 billion or 14.61%, Belgium with N1,140.97 billion or 8.09%, India with N908.59 billion or 6.44% and The United States of America with goods valued at N512.99 billion or 3.64%. The values of imports from the top five countries amounted to N9,715.50.


Data source: National Bureau of Statistics

You know it's a hitjob when even the BRICS countries haven't responded to Trump but Nigeria's foreign minister is, president Tinubu needs to remove him.

Whoever knows a channel to Seyi Tinubu needs to let his dad knows that this foreign minster man got to go, they want to isolate our president.

BuharisBoy:
We pray to the fall of the Dollar, Trump should stop the frequent printing of the USD without any gold backing

Is Trump president of USA now? Are you from the moon

patrickcollins:
We import virtually everything, Nigeria is more of an importing nation, mostly all finished products and petrol

You are right
But he what he said opposes what u just typed .

Bandirao:
oga honestly this is not true we export more than we import

You're totally correct, surprisingly most Nigerians are oblivious of this fact. They are derailed by the sentiments and and negative narratives about Nigeria

Trump is morron who doesn't even seem to know what tarrif is. He is threatening to punish his own citizens if his rivals don't bow to him, how can you possibly be? They will draw his ears and tell him to stop clowning

Sheuns:
These aides and misyarning.

You compare Nigeria to Russia. Russia that still trades with the USA. Do you think if Nigeria is sanctioned by the USA we can take it like Russia?

With the current economic situation what else will a sanction do.

They should dedollarize the dollar I beg. Done no good to us.

Sheuns:
These aides and misyarning.

You compare Nigeria to Russia. Russia that still trades with the USA. Do you think if Nigeria is sanctioned by the USA we can take it like Russia?

Most Yorubas are just gaslighting Tinubu into destruction.

Trump developed a financial system that can't be outsmarted. Countries have already signed up for it. That system is what's tripling Elon Musks net worth on daily basis.

No, Nigeria didn't call Trump's bluff, a cabal minister did and he's on his own. Anyways, Trump went through hell in the hands of cabal too so he knows how they operate.

Mumu, how are Yoruba gaslighting Tinubu to destruction? Is the minister a Yoruba or you just like to call Yoruba in every difficulty you have in life as a loser?

gsmphoneseller:
Most Yorubas are just gaslighting Tinubu into destruction.

Trump developed a financial system that can't be outsmarted. Countries have already signed up for it. That system is what's tripling Elon Musks net worth on daily basis.

Lumig:
You're totally correct, surprisingly most Nigerians are oblivious of this fact. They are derailed by the sentiments and and negative narratives about Nigeria

They are not derailed by sentiments and any negative narrative...

They are lied to by the government and paid governement propaganda jobbers...

It is a diversion tactics and sadly I see a lot of people falling for it...

BuharisBoy:
We pray to the fall of the Dollar, Trump should stop the frequent printing of the USD without any gold backing

Is he the president?

Bandirao:
oga honestly this is not true we export more than we import

What do you export?

Sheuns:
These aides and misyarning.

You compare Nigeria to Russia. Russia that still trades with the USA. Do you think if Nigeria is sanctioned by the USA we can take it like Russia?

Nigeria calls the bluff....
What say you, BAT....?!
he alone speaks for the whole 200M people

Didijiji:
Good one

Trump will come for his head and ensure he is kicked out in 2027

Hardship expert claiming reformer

Trump doesn't have time for those nonsense.

This is really ridiculous from a Nigerian government aide because the dollar is almost like the global currency of international trading.

Shey fg still detain people whey fly Russian flag? Why dem con dey dine with same Russia?

BuharisBoy:
We pray to the fall of the Dollar, Trump should stop the frequent printing of the USD without any gold backing

Is Trump USA president?

Christ4ever:
No benefit. Just estacodes for government officials going for the meetings/jamborees.

Our problem as a nation is that we are not productive. We import almost everything we consume.

Strategic alliances is only in favour of producers not consumers.

Illiteracy and ignorance at its finest.

Firebomber:
Is that the reason why they wrote Nigeria in Hausa language during there last BRICS summit?

On a serious note, what's the benefit of joining BRICS since we import more than we export?

Ask them oo, but we know Nigeria naa, no stable policy. The same way they attended to opening of American embassy at Jerusalem from behind, they will also go and lobby American while romancing with BRICS Nations.

DrAda:
Do we have a choice to say no to BRICS?

Trump is doing what he is doing for the interest of his people. We must also do what is in our interest.

America is a falling empire. It’s a bluff by Trump that will do more harm to America than BRICS. Trump is only in power for 4 years.

DrAda:
Do we have a choice to say no to BRICS?

Trump is doing what he is doing for the interest of his people. We must also do what is in our interest.

America is a falling empire. It’s a bluff by Trump that will do more harm to America than BRICS. Trump is only in power for 4 years.

China has already declined the invitation to his inauguration.

Sheuns:
These aides and misyarning.

You compare Nigeria to Russia. Russia that still trades with the USA. Do you think if Nigeria is sanctioned by the USA we can take it like Russia?

Use your brain, we export nothing to America, they don’t buy our Oil. We have little to lose.

The only thing we “export” to America these days are human beings.

Make una continue dey cho cho cho. But just for the records: I totally dissociate myself from the nonsense any government official says about Trump or Israel.

My safety is a priority.

God Bless Trump
God Bless Israel
God Bless the IDF
God Bless Netanyahu

essenjack:
Anything to Move this country forward is very much welcome.
God bless the federal Republic of Nigeria

empty head

essenjack:
Anything to Move this country forward is very much welcome.
God bless the federal Republic of Nigeria

you are sighted.

Bandirao:
oga honestly this is not true we export more than we import

What does Nigeria export?

Bandirao:
oga honestly this is not true we export more than we import

You got this from the statistics of those who says unemployment is now 4.3%?
How can you rely on the statistics of those who classify alimajiri and biabiala as a a full time job?
Na wao for una.

No matter how BRICS a nation can be, if the bricks that make up the nation is not good enough that country will still remain stagnant.If Yahaya Bello was a Chinese his life will be hanging right now for his corrupt act while he was the governor of Kogi State. No matter the dividend and proceeds that we anticipate in joining the BRICS as a nation member will be siphoned wholly by rascal Nigerian politicians. Member nations that joined meaningfully are doing so with their national interests first before any other motives..
Secondly, to join UN membership and ultimately become like the G20 countries there are certain conditions as requirements e.g advanced technology in the aspect of weapons, robust economy, industrialization ,global standard welfare and promising standard of living, scientific innovations etc. The nation should tackle the alarming numbers of out of school children, unstable power supply, unstable power supply, weak infrastructure, corruption, agricultural backwardness etc or they are just about to change slave masters and God forbid this time around it could be the worst ever.
Countries that have resources like crude oil for over 50years have all moved to the top in development and growth with clear indices as Nigeria is still battling with Emeifele, Yahaya Bello, El-rufai, Ganduje, Diezani and co.
Please can we focus more on solving our internal problems so that in the end we can attract global respect.