Nigeria Spends N1.48trn On Raw Material Imports In Q2 …C0NTINUE READING HERE >>>
Foreign Trade in Goods Statistics” for Q2 2024, revealing a sharp rise in the value of imported raw materials. The report shows that imports reached N1.482 trillion in Q2 2024, a significant increase from N567.80 billion in Q2 2023, largely due to the depreciation of the naira.
On a quarter-on-quarter (QoQ) basis, the value of imported raw materials rose marginally by 0.96% from N1.467 trillion in Q1 2024.
Conversely, the value of raw material exports in Q2 2024 was N366.91…
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