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Total Trade In Goods Increased To N12.02trn In Q2, NBS Confirms

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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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CAS lauds troops for courage, sacrifices against terrorists

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Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar, had lauded the courage and commitment of troops of the Nigerian Air Force (NAF) to the ongoing counter-insurgency operations in North East Nigeria.

Abubakar gave the commendation during a morale-boosting visit to the Air Component of Operation HADIN KAI in Maiduguri, Borno.

This is contained in a statement by the Director, Public Relations and Information, NAF, Air Commodore Ehimen Ejodame, yesterday, in Abuja.

The CAS said their sacrifices were etched in the history of the nation, and in the hearts of millions of Nigerians who sleep safer because of the troops’ vigilance.

He emphasised that their bravery and resilience in the face of adversity have not gone unnoticed, saying his visit underscored the vital role airpower plays in neutralising threats and protecting communities.

Abubakar pledged continued investment in cutting-edge technology to empower frontline units.

According to him, the NAF remains steadfast in its mission, guided by leadership, strengthened by unity, and driven by the selfless service of its personnel.

The visit comes at a critical moment, reinforcing the importance of public support for military operations and spotlighting the human element at the heart of national defence.

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Nigeria Ranks Top In Africa’s Soft Drinks Market 

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Nigeria’s soft drinks and beverage market continues to show strong growth potential, making it the leading consumer of soft drinks in Sub-Saharan Africa, according to the German Mechanical Engineering Industry Association.

A statement by the VDMA disclosed during a press conference held in Lagos ahead of drinktec 2025, that Nigeria consumed over 53 billion litres of soft drinks in 2024, placing it well ahead of other African countries such as Ghana and South Africa.

Despite challenges such as inflation and a weakening naira, Nigeria’s growing population, rising urbanisation, and expanding middle class are key factors driving demand in the beverage sector.

Bottled water led the segment with 48.7 billion litres sold in 2024, a figure projected to rise by 27% to 62 billion litres by 2028.

Carbonated soft drinks followed with 3.4 billion litres, expected to reach 4.4 billion litres by 2028, while energy drinks are forecasted to grow by 30% over the same period. Juices, though relatively small, are also on an upward trajectory.

“The Nigerian beverage market is expanding quickly due to increasing accessibility and affordability,” VDMA stated, citing data from Euromonitor International.

Set to take place in Munich from 15 to 19 September 2025, drinktec is the world’s leading trade fair for the beverage and liquid food industry.

VDMA, a key exhibitor and technical partner for the event, revealed that Nigerian participation is expected to be strong, especially as the country anticipates economic recovery.

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Soyinka Slams NBC Over Ban On Eedris Abdulkareem’s Protest Song 

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Nobel Laureate, Prof. Wole Soyinka, has condemned the recent ban placed on a song by Nigerian musician, Eedris Abdulkareem, describing the development as a return to the culture of censorship and a threat to the right to free expression.

Abdulkareem had waxed a song titled “Tell Your Papa” which criticized President Bola Tinubu’s administration.

In a statement issued from New York University, Abu Dhabi, yesterday, Soyinka criticised the action and its wider implications, saying it echoed past attempts to stifle artistic and socio-political commentary in Nigeria.

“Courtesy of an artist operating in a different genre – the cartoon – who sent me his recent graphic comment on the event, I learnt recently of a return to the culture of censorship with the banning of the product of a music artist, Eedris Abdulkareem,” Soyinka said in the piece posted on PM news.

He expressed irony in suggesting that the ban did not go far enough, stating, “It is not only the allegedly offensive record that should be banned – the musician himself should be proscribed. Next, PMAN, or whatever musical association of which Abdulkareem is member, should also go under the hammer.”

Soyinka noted that he had not listened to the banned song but stressed that the issue transcends content and concerns a fundamental democratic principle.

“It cannot be flouted. That, surely is basic. This is why I feel that we should look on the bright side of any picture and thus recommend the Aleshinloye cartoon – and others in allied vein – as an easy-to-apprehend, easy-to-digest summation of the wisdom of attempting to stifle unpalatable works of art or socio-political commentary,” he said.

He also pointed out the irony that censorship often benefits the targeted artist.

The ban is a boost to the artist’s nest egg, thanks to free governmental promotion. Mr. Abdulkareem must be currently warbling his merry way all the way to the bank. I envy him,” he added.

The literary icon warned that such censorship was not only counterproductive but also dangerous to democratic development.

“We have been through this before, over and over again, ad nauseum. We know where it all ends. It is boring, time-wasting, diversionary but most essential of all, subversive of all seizures of the fundamental right of free expression,” Soyinka said.

He warned that the ban creates “a permissive atmosphere of trickle-down power,” where state authorities feel emboldened to clamp down on dissent.

Soyinka’s statement also touched on broader issues of impunity and mob violence in Nigeria, lamenting the recent lynching of 19 youths in Edo State.

“My heart goes out to friends, colleagues and families of victims and traumatised survivors of this senseless slaughter. Our thirst for justice must remain unslaked,” he said.

Referencing the 2022 killing of Deborah Samuel in Sokoto, Soyinka criticised the culture of impunity, saying, “Identified killers were set free to gloat, and paste their photos on the Social Media… in full daylight glare, in the presence of both citizen voyeurs and security forces.”

He called for accountability, warning that “as long as the culture of impunity is given the sheerest strain of legitimacy in any given cause, such gruesome assaults on our common humanity will continue to prevail.”

Soyinka concluded by urging the relevant regulatory body to reverse what he described as a “petulant irrationality,” warning that any government that only tolerates praise-singers “has already commenced a downhill slide into the abyss.”

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