in Short
Nigeria: Trade balance rises to 6.5 trillion naira in Q2 2024
Nigeria’s Vice President, Kashim Shettima, announced at the 3rd National Non-Oil Export Conference that government trade programs have boosted the trade balance to 6.5 trillion naira in the second quarter of 2024. Exports accounted for 60.89% of the total, equivalent to 19.42 trillion naira, marking a 201.76% increase compared to 2023. Shettima emphasized the need to improve trade policies to reduce reliance on oil and seize global market opportunities.