Nigeria’s raw material imports gulp N2.32trn, rise 73% in 2020

Nigeria's raw material imports

Nigeria’s raw material imports gulp N2.32trn, rise 73% in 2020   Despite restrictions coming from Coronavirus pandemic in 2020, imports of raw materials into Nigeria rose by 73 per cent to N2.32 trillion last year amid the COVID-19 pandemic from N1.34 trillionn in 2019, according to data from the Nigerian Bureau of Statistics (NBS). The NBS said in its latest Foreign Trade Statistics report that the value of total trade in raw material stood at N762.6 billion in the fourth quarter of 2020. It said the import component was valued…

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