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Total Trade In Goods Increased To N12.02trn In Q2, NBS Confirms
Total merchandise trade increased by 23.28 per cent in Quarter Two (Q2, 2021) to N12.02trillion from N9.75trillion recorded in Q1, the National Bureau of Statistics (NBS) says.
The NBS said this, yesterday in Abuja in its “Foreign Trade in Goods Statistics, Q2, 2021”, adding that the increase was a result of the sharp increase in export value during the quarter under review.
According to the report, the export component of the trade was valued at N5.07trillion or 42.22 per cent, while import was valued at N6.95trillion or 57.78 per cent with trade balance deficit of N1.87trillion.
It said that crude oil, which was the major component of export trade, stood at N4.07trillion or 80.29 per cent of total export.
“This further shows a sharp increase of 111.32 per cent in crude oil value in Q2 compared to N1.92trillion recorded in Q1, while the non-crude oil export recorded N1trillion or 19.71 per cent of total export trade in Q2.”
In its products classification by sectors, the NBS said that total value of trade in agricultural goods in Q2 stood at N817.35billion, with the export component totaling N165.27billion while the import was valued at N652.08billion.
It added that top most of these exported agricultural products were good fermented Nigerian Cocoa beans exported mainly to Netherlands (N16.48billion), Malaysia (N9.32billion) and the United States of America (N8.41billion).
The NBS said that the total value of trade in solid mineral goods in Q2, stood at N63.68billion, with the export component of at N14.93billion while import was valued at N48.75billion.
According to it, the leading exported mineral products were cement exported to Niger Republic and Togo in values worth N3.12billion and N2.32billion.
For the manufactured goods sector, the value of trade stood at N4.51trillion representing 37.50 per cent of total trade.
It said that out of the figure, the export component accounted for N211.67billion while the import component was valued at N4.29trillion.
“The products that drove up manufactured products were vessels and other floating structures for breaking up, which was exported to Cameroon in the value worth N71.90billion.
“Vessels and other floating structures for breaking up were also exported to Spain and Equatorial Guinea in values worth N18.34billion and N6.26billion.
“In terms of manufactured imports, used vehicles were mainly imported from United States and Italy in values worth N33.78billion and N5.74billion.”
In the raw materials goods sector, total trade stood at N904.51billion with the import component valued at N840.50billion while the export component stood at N64.01billion.
The report said that import trade classified by region showed Asia as the leading partner with a record of N3.46trillion or 49.92 per cent with Europe with N2.30trillion or 33.16 per cent closely following.
Others are America with N869.1 billion, Africa N248.8billion and Oceania N58.1billion.
It added that out of the value recorded for Africa, import from ECOWAS countries accounted for N24.2billion.
It said that in its analysis of imports by country of origin, data showed that the majority of the goods imported during the quarter originated from China with value of N2.078trillion, followed by India with N570.01billion, Netherlands N557.16billion, United States N526.92billion.
The NBS said that export by section revealed that mineral products accounted for N4.63trillion or 91.29 per cent of total export trade.
“This was followed by vehicles, aircraft and parts, vessels at N141.73billion, vegetable products N92.80billion among others.
“In terms of regional trade, Nigeria exported most products to Asia (N1.84trillion), Europe (N1.82trillion), America (N806.81billion) and Africa (N584.11billion) while Oceania totaled N23.28billion with goods worth N363.3billion exported to ECOWAS.
“Analysis by country export trade showed that most goods were exported to India (N949.05billion or), Spain (N524.49billion), Canada (N355.60billion) and Netherlands (N298.29billion) and United States N256.63billion.”
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Mayor Of Housing Wins Man Of The Year Award
My-ACE China, known as the Mayor of Housing, has won the 2024 Man of the Year. The award was announced by board of trustees of the DMOMA Awards Academy in Port Harcourt at the week.
The organisers also declared his company, the Construction and Housing Mayor Limited as the brand promoter of the year, the third in a row.
The award ceremony which was held at the Arena Event centre in the GRA area of Port Harcourt was attended by several dignitaries in the society.
The organisers led by Dr. Ezebunwo Nyeche (chairman) and Stephen Chidiebere Okoye (Awards organizer) said in a statement that China was picked for his support and impact to small and medium enterprises in Rivers State, his media footsteps and his consistent propagation and promotion of Rivers State.
They noted that China won over 10 prestigious awards in 2024 alone on his track to promote Port Harcourt as a brand destination and Rivers as a peaceful state.
Handing the award to China, the organisers said the Mayor of Housing always comes to the rescue of events that aim to promote Rivers State, saying the DMOMA Awards would be held in two more cities in 2025.
Responding, Mr China said there is need for more sponsorship of talents in Port Harcourt and the Niger Delta, saying what they lacked was support.
“There is more talent in Port Harcourt but there is more support in Lagos to artistes than in Port Harcourt. So, the top talents in Port Harcourt work 10 times harder than those in Lagos to attract sponsorship.”
He also said Nigeria has a treasure base which is Port Harcourt but that the treasure is not oil and gas but talents. He said he was highly elated to win the of Man of the Year Award with his firm winning brand of the year.
In an interview, My-ACE China said he was particularly impressed with the diligence demonstrated by the organisers and the processes they used to pick winners every year.
He also said the victory showed attention paid by the organisers to unveil the personality behind the corporate masquerade, not just focusing on the company. “It actually reaffirms one of my quotes that a brand can only grow as big as the character of the visioner behind it.”
On his plans to help Port Harcourt compete with Lagos, China said 2025 will meet him doing things with the youths of Rivers State to push the Port Harcourt brand in the social media and rally the traditional press to create a positive narrative of Rivers State beyond violence and political negativity.
“The Garden City has not been enjoying the best of media perception for some years now but this is the first time we have a governor committed to non-political bias in doing his work. He does not consider whether you are a member of his party or not before doing what is right. For the first time, we have a true father of the state to all, and he has been diligently following the blueprint that stakeholders developed at the last Rivers Economic and Investment Summit, making sure he is doing it without political cronyism.”
He said his company would be building the biggest estate and the best, the ‘Alesa Sustainable Smart City, to move from brand perception to brand experience so as to move Rivers State to the next level.
He appealed to entrepreneurs not to be carried away by the old perception but to join the new way. “Position yourself because there is going to be a boom. People are rushing into Port Harcourt and new entrants may take the ground. Think expansion not contraction, think investment not divestment. Else, you miss it.”
To fellow estate investors, he admonished them to gear up for regulation. “It is no longer going to be business as usual especially for land peddling and land grabbing. Try to grow up because tangible development is going to take over.
“It is no longer going to be who sells the most land but who develops the most houses. The housing deficit in the land requires effective land development strategies. Any serious land seller should grow into a housing developer because developments are going to be coming into Rivers State and a lot of people are coming into the state.”
He said those that have grown to be developers will be many times richer than those that are just starting or are mere land sellers and peddlers. People should also position themselves because all the foreign investments and local ones will take advantage of this influx.
“The value of influx is coming, so prepare and take advantage. Be one of those that are big enough to take advantage. Remaining small will not be good but grow big in your products, in your services, because the market is going to grow big.”
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FUBARA MOURNS FORMER RIVERS GOV
Rivers State Governor, Sir Siminalayi Fubara, has expressed shock and sadness over the death of a former military governor of the State, Major-General Godwin Osagie Abbe (rtd).
Late Abbe, who hails from Edo State, was military governor of Rivers State between August, 1990 and January, 1992.
Governor Fubara described late Gen Abbe as one leader who dedicated himself to the service and wellbeing of Rivers people and humanity during his administration in the State, saying that the death of the distinguished military officer, politician and administrator was a very huge loss to the State, the Niger Delta, and indeed, the entire country, having traversed the length and breath of the nation in the cause of his military and political careers.
“On behalf of my family, the Government and good people of Rivers State, I condole with the family of the Abbes, the Edo people, and the Nigerian military on the demise of this colossus, whose contributions to the unity, peace and development of the nation are legendary.
“While we mourn his painful exit at this difficult time, we pray for the eternal repose of his soul, and urge the family to take solace in the fact that late Gen Abbe lived a fulfilled life in the service of his fatherland.”
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CHRISTMAS: FUBARA, WIFE HOST RIVERS CHILDREN, TASK THEM ON EXEMPLARY CONDUCT
Wife of Rivers State Governor, Lady Valerie Siminalayi Fubara, has noted with delight that Rivers children are well behaved, and has admonished them to remain supportive of their parents while striving always to make a difference wherever they find themselves.
Lady Fubara gave the counsel at the 2024 Christmas Children Party, attended by children from the 23 Local Government Areas of the State, including non-indigenes, at Government House in Port Harcourt on Thursday.
The Christmas Children Party also witnessed the presence of Governor Siminalayi Fubara, who stopped over to share moments with them, walking from one canopy to another, waving at them, and at other times, shaking hands with them to leave lasting memories on them.
The Rivers First Lady pointed to the importance of the celebration of Christmas, which draws attention to the birth of Jesus Christ, demanding that people have a deep reflection of the love that is demonstrated and mission of the birth, which is to redeem mankind.
Lady Fubara recalled how she took out time to visit the University of Port Harcourt Teaching Hospital and the Rivers State University Teaching Hospital, where she appreciated God for safe delivery of children born on Christmas day while felicitating with the nursing mothers.
She also stated the valuable time spent with motherless babies when she visited the Port Harcourt Children’s Home in Borikiri, old Port Harcourt Township, and celebrated their meekness, innocence and the beauty they bring to the world.
She said, “Even today, as we continue the celebration, efforts were made to extend invitation to our children in all the 23 local government areas of our State. In doing this, children from all classes of society, including the physically challenged, have been offered the opportunity to sit together as brothers and sisters, play, eat and dance.
“Whilst contemplating the uniqueness of celebrating Christmas on a Boxing Day, steps were equally taken to provide gifts for the children who are there, and also to pray for them, a qualitative fun session that will last in their memories.”
Lady Fubara advised all children in the State to remember that Jesus came into the world to make a difference, advising that they must emulate him so that they can positively impact their families and society.
She urged them to pray fervently to God to bless and prosper their mothers, daddies, aunties and uncles to better cater to their needs.
She added, “Be humble, obedient and supportive at home. Do household chores, and don’t forget to make excellent grades in school next academic session. Children are the joy of every home, and we are glad to have beautiful, well-behaved children in Rivers State.
“Thank you all for witnessing this 2024 Children’s Party, and I pray God Almighty to protect, shield and keep you safe from all negative companies in the name of Jesus. I wish you a Merry Christmas and a Prosperous 2025. God bless you all,” she said.
Lady Fubara expressed appreciation to her husband and Governor of Rivers State, Sir Siminalayi Fubara, for his absolute commitment to the growth of children, and the immeasurable support that ensured that Christmas Children Party was a success.
There were performances by Virtue Dancers, Kalabari Iria dancers, Wonder Time Children of Opobo Kingdom, Children of Rivers State Council of Arts and Culture, Diseye the Poet and DJ Arnold.