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Nigeria’s foreign trade Increases by 23.28% in the second quarter

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Nigeria’s total foreign trade has risen to N12 trillion in the second quarter of 2021 as the country recorded an increase in exports, the National Bureau of Statistics has said.

The figure represents a 23.28 per cent increase over the value (N9.8 trillion) recorded in the first quarter of 2021 and an 88.71 per cent increase compared to the second quarter of 2020.

“This increase resulted from the sharp increase in export value during the quarter under review,” it said.

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The bureau disclosed this in its “Foreign Trade Goods Statistics Q1 2021” published recently.

The NBS stated that the export component of this trade was valued at N5.1 trillion or 42.22 per cent while import was valued at N6.95 trillion or 57.78 per cent while the trade balance stood at a deficit of N1.87 trillion.

“The crude oil which is the major component of export trade stood at N4, 078.20 billion or 80.29 per cent of total export.

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“This further shows a sharp increase of 111.32 per cent in Crude oil value in Q2, 2021 compared to (N1, 929.83billion) recorded in Q1, 2021 while the Non-crude oil export recorded N1001.23 billion or 19.71 per cent of total export trade during the second quarter of 2021,” it said.

Categorizing the imported goods, the report said that the value of total imports rose by 1.45 per cent in Q2, 2021 compared to Q1, 2021 and 67.49 per cent compared to Q1, 2020.

“The value of imported agricultural products was 3.5 per cent more in q2, 2021 than in q1, 2021 and 56.9% more compared to Q2, 2020.

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“The value of Raw material imports increased by 25.6 per cent in Q2, 2021 compared to Q1, 2021 and 47.3 per cent compared to Q2, 2020,” it said.

The NBS said the value of Solid minerals imports was 21.4 per cent higher in Q2, 2021 than its value in Q1, 2021 and 68.3 per cent more than its value in Q2, 2020.

“The value of Energy goods imports decreased by 94.6 per cent in Q2, 2021 against the level recorded in Q1, 2021 and 88.7 per cent compared to the corresponding quarter of 2020,” it said.

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It added that the value of imported manufactured goods decreased by 5.1 per cent in Q2, 2021 against the value recorded in Q1, 2021 but increased 54.3 per cent compared to Q2, 2020.

“The value of other oil products imported in Q2, 2021 was 13.3 per cent more than its value in Q1, 2021 and 218.5 per cent higher than Q2, 2020,” it said.

As for exports, the value of agricultural exports increased by 74.72 per cent against the level recorded in Q1, 2021 and 128.29 per cent compared to Q2, 2020.

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“This increase resulted mainly from the increase in export value of crude oil in Q2, 2021.

“The value of agricultural exports increased by 29.95% in Q2 2021 compared to Q1 2021 and 111.8% compared to Q2 2020,” it said.

It added that the value of raw material goods exports in Q2, 2021 was 49.98 per cent more than the value in Q1, 2021 and 326.6 per cent more than the value recorded in Q2 2020.

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“The exports of Energy goods increased in value by 18.44 per cent in Q2 2021 compared to Q1 2021 and

62.1 per cent compared to Q2, 2020,” the report said.

Also, the value of Solid minerals exports increased by 60.10 per cent in Q2, 2021 against Q1 2021 and 852.9 per cent against the corresponding quarter in 2020.

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“Manufactured goods exports decreased by 15.45 per cent in Q2 2021 compared to the value recorded in Q1 2021and 16.7 per cent compared to Q2, 2020.

“Crude oil exports in Q2 2021 increased by 111.32 per cent compared to Q1, 2021 and 162.4 per cent compared to Q2, 2020.

“The export value of other oil products decreased by 0.66 per cent in Q2 2021 compared to Q1 2021, but increased significantly by 69.3 per cent compared to Q2 2020,” it added.

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Import by countries

According to the report, Nigeria’s imports by country of origin showed that the majority of the goods imported during the quarter originated from China with a Value of N2, 078.59 billion or 29.91 per cent.

“This was followed by India (N570.01 billion or 8.20 per cent), Netherlands (N557.16 billion or 8.02 per cent), United States (N526.92 billion or 7.58 per cent) and others,” it said.

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For export, during quarter 2, 2021 total export was valued at N5, 079.44billion representing 42.22 per cent of the total merchandise trade.

“This value rose by 74.72 per cent in Q2, 2021 compared to Q1, 2021 and 128.29 per cent compared to Q2, 2020.

Export by section revealed that mineral products accounted for N4, 637.05 billion or 91.29 per cent of total export trade.

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“This was followed by Vehicles, aircraft and parts; Vessels etc N141.73 billion or 2.79 per cent, Vegetable products N92.80 billion or 1.83 per cent among others.

In terms of regional trade, Nigeria exported most products to Asia (N1, 842.95 billion or 36.28 per cent), Europe (N1, 822.29 billion or 35.88 per cent) America (N806.81billion or 15.88 per cent) and Africa (N584.11 billion or 11.50 per cent) while Oceania totalled N23.28 billion or 0.46 per cent.

“During the quarter goods worth, N363.3billion was exported to ECOWAS.

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“By Country export trade showed that most goods were exported to India (N949.05 billion or 18.7 per cent), Spain (N524.49 billion or 10.3 per cent), Canada (N355.60 billion or 7.0 per cent) and Netherlands (N298.29billion or 5, 9 per cent) and United States N256.63 billion or 5.1 per cent,” it said.

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Headlines

NNPC Foundation Trains Over 3,000 Southwest Farmers in Climate-Smart Agriculture

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In a bid to promote food security and sustainable agricultural practices, the NNPC Foundation has successfully trained more than 3,000 farmers in the South-West geopolitical zone on climate-smart and modern farming techniques.

The training, which concluded on Friday in Ikorodu, Lagos, marked the end of the Southwest phase of the foundation’s pilot programme aimed at empowering local farmers and boosting agro-productivity.

Speaking at the closing ceremony, Managing Director of the NNPC Foundation, Mrs. Emmanuella Arukwe, described the initiative as a milestone in the lives of thousands of farmers.

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“Today marks the formal conclusion of the first phase of a national journey that speaks to resilience, food security, and economic empowerment,” Arukwe said.
“What began as a bold decision to support small holder farmers has translated into tangible action across three geopolitical zones (South-East, South-South, and South-West) in Southern Nigeria.”

She disclosed that a total of 3,860 vulnerable farmers across 10 locations in the three regions were trained in sustainable farming practices that improve productivity and market access.

“This achievement is not just a number, but a milestone in the lives of real people and real communities. We were able to strengthen farmers’ capacity to adapt to climate change,” she added.
“Through the training, we were able to improve access to markets, promote inclusive agriculture and especially gender representation. We also trained them on enhancing food production through sustainable techniques.”

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Arukwe noted that the programme would now move to the North-West, North-Central, and North-East zones as part of its next phase, saying the foundation is committed to supporting livelihoods nationwide.

“This is only Phase One. We will now turn our focus to the North-West, North-Central, and North-East zones. What we have achieved in the South will inform and strengthen our next steps,” she said.
“The NNPC Foundation will continue this mission, to support livelihoods, build resilience, and empower the hands that feed our families and beyond.
We have decided that most times you get a lot of requests from people asking us to give them palliatives and all kinds of things to help them.
But we think it is much better to teach people to fish than just give them fish so they can continue,” Arukwe explained.

Chairman of Ikorodu Local Government, Mr. Wasiu Adesina, while commending the initiative, urged the beneficiaries to apply the knowledge gained to boost productivity and profitability.

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“As we all know, agriculture is the bedrock of any nation. Without agriculture, there will not be a nation, because there will be no food to eat,” Adesina stated.
“It is the farmers that produce our food, and it is important that we train our farmers with new techniques in agriculture, and that is exactly what the NNPC Foundation is doing.

“To the farmers, you have to take advantage of this training and face the farming squarely. In some great countries like the United States and the United Kingdom, farmers are the most richest people in those countries.

“This is because they make a lot of money from farming. We need to inculcate that habit in Nigeria and develop ideas in farming. Even after my tenure, I am going back to farming, so, maybe I will ask the NNPC Foundation to train me so that I also join you to be a farmer.”

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He appealed to the foundation to provide further empowerment for the trained farmers to help them kickstart their agricultural ventures.

“If the farmers have land for farming, I believe the foundation will provide financial aid to keep their farms running,” Adesina added.

Also speaking at the event, the Lagos State Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, represented by the Director of Fisheries, Mrs. Osunkoya Daisi, lauded the Foundation’s efforts in bolstering the state’s food security.

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“On behalf of the Lagos State Government, we would like to express our sincere appreciation to NNPC Foundation for training our farmers and for training all the farmers all over the country,” she said.
“Definitely, the training will help improve food production. We can see the impact of climate change effects in agriculture. I am sure farmers have been equipped with climate-smart agriculture techniques to improve production.”

The NNPC Foundation Ltd/Gte is the Corporate Social Responsibility (CSR) arm of the Nigerian National Petroleum Company (NNPC) Limited. It was incorporated in February 2023 to manage the company’s CSR initiatives and enhance Nigeria’s socio-economic development.

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Education

NUC grants ESUT full accreditation for Law, 7 other programmes

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The National Universities Commission, (NUC), has given full accreditation to the Enugu State University of Science and Technology (ESUT), for her Law programme.

According to the Public Relations Officer of ESUT, Mr Ikechukwu Ani, this is contained in a letter addressed to the institution’s Vice Chancellor, Prof. Aloysius Okolie, on Wednesday in Enugu by the NUC.

Ani said that in the letter, the Executive Secretary of NUC, Prof. Abdullahi Ribadu said the report was contained in the result of the October/November 2024 accreditation of academic programmes in Nigerian universities.

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Ani disclosed that other programmes in the institution accredited by the NUC include Master of Science in Business Management; Education Computer Science; Education Physics and Agricultural Engineering.

Other accredited programmes he said were Quantity Surveying; Urban and Regional Planning; and Applied Microbiology.

He said that the letter quoted Section 10 (1) of the Education National Minimum Standard and Establishment of Institutions, Act CAP E3, Laws of the Federation of Nigeria 2004 as empowering the NUC to lay down minimum academic standards for all academic programmes taught in Nigerian universities.

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He said the session also empowers the NUC to accredit such programmes.

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Crime

Court remands 2 over alleged attempted murder

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Court discharges man accused of burning father’s house in Abuja

An Ikeja Magistrates’ Court, Lagos, on Wednesday, remanded two persons, Olaitan Fasasi and Kehinde Tobiloba in a correctional facility over alleged attempted murder.

Fasasi, 40, and Tobiloba, 26, whose addresses were not provided, are being charged with conspiracy, attempted murder and membership of a secret society.

The Magistrate, Mr L.A Owolabi, did not take the plea of the defendants for want of jurisdiction.

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Owolabi directed the police to forward the case file to the Director of Public Prosecution for legal advice.

He thereafter adjourned the case until May 31 for mention.

The Prosecutor, Josephine Ikhayere, told the court that the defendants committed the offences at about 5.02p.m on Feb. 15, at Mushin, Lagos.

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She said that Fasasi, Tobiloba and others now at large, attempted to commit murder by shooting at a resident, Alfred Ademola.

“They armed themselves with a locally made gun. They belong to Eiye Confraternity, a group proscribed by law,”, she said.

Ikhayere said that the offences contravened Sections 230(1) and 411 of the Criminal Law of Lagos State, 2012.

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He said that the actions of the defendants also contravened Section 2(3)(a)(b)(c)(d) of the unlawful societies and Cultism Law of Lagos State Law.

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