Nigeria’s Merchandise Trade Grew Marginally Q-on-Q But Significantly Y-on-Y in Q3 2017


Monday, December 11, 2017/ 05:00PM /NBS 

Key Highlights 


Total Imports value of N2,348.6 billion in Q3 2017 was 10.51% lower than Q2 2017 and 4.68% lower than Q3 2016.

  • Value of Imported Agricultural goods were 0.05% higher than the value recorded in Q2,2017 and 16.91% higher than Q3 2016
  • Value of Raw material imports were 4.77% lower than Q2,2017 and 2.80%  lower than the value in Q3 2016.
  • Solid Minerals imports in Q3 2017 decreased by 1,220.48% compared to Q2 2017 but was 8.69% higher than Q3 2016
  • Energy goods imports in Q3 2017 were 92.17% lower than Q2 2017 and compared to Q3 2016 when no energy goods imports were recorded.
  • Manufactured goods imports value was 4.08% higher in Q3 2017 than the level in Q2 2017 and 2.79% lower than Q3 2016
  • Other oil products imports value was 17.54% lower than in Q2 2017 and 28.81% higher than Q3 2016 


Total export value stood at 3,573.0 billion in Q3, 2017 representing an increase of 13.19% over Q2 2017 and 35% over Q3 2016.

  • Agricultural goods export value in Q3 2017 was 38.43% lower than Q2 2017 but 25.29% higher than Q3 2016
  • Raw material exports value increased by 16.88% in Q3 2017 against the level in Q2 2017 but 70.42% higher than Q3 2016.
  • Solid Minerals exports value in Q3 2017, increased by 85.3% compared to Q2 2017 and was 78.72% higher than Q3 2016
  • Energy goods exports value in Q3 2017 was 80.58% higher than Q2 2017 but 99.13% higher than the value in Q3 2016
  • Manufactured goods exports were 62.68% lower than the value in Q2 2017 but 22.98% higher than Q3 2016
  • Crude Oil exports in Q3 2017 were 18.40% more than the value recorded in Q2 2017 but 34.13% higher than Q3 2016
  • Other oil products exports in Q3 2017 were 13.53% less in value than in Q2 2017 but 37.22% higher than Q3 2016 

Major Export trading partners and % share to Q3, 2017 Export trade

  • India                 17.44%
  • U.S.A.              13.92%
  • Spain                9.96% 
  • Netherlands   6.79%
  • France            6.32% 

Major import trading partners and % share to Q3, 2017 Import trade

  • China              22.26% 
  • U.S.A.             7.98%
  • Netherlands    7.64%
  • India               5.08%
  • U.K.                 4.11% 

Major traded Agricultural products

· Sesamum Seeds

·  Frozen shrimps and prawns

·  Soya beans, whether broken or not

·  Cashew nuts, in shell

·  Flour and meals of Soya bean. 


Total exports in the third quarter of 2017 was recorded 3,573.32 billion naira, which shows a 15.19% growth compared to the second quarter of the same year and a 53.85% growth compared to the third quarter in 2016. Total imports in the reviewing quarter, in contrast, decreased to 2,348. 64 billion naira. This shows a decline of 9.41% quarter on quarter and 4.47% on a year on year basis. 

Trade balance of Nigeria in 2017 Q3 amounted 1,225 billion naira, due to a continued value increase in exports and a decline in imports. This figure in Q3 more than doubled the value in the previous quarter and it is the first time that trade balance exceeds 1,000 billion naira since the last quarter of 2014.

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Exports in the third quarter were still oil dependent. Crude oil exports were recorded 2,971.94 billion naira in the third quarter and it remained the majority of total exports (83.17%). Crude oil exports grew faster than non-crude oil exports as crude oil exports accounted for 78.18% in the second quarter of 2017. Non-oil products only contributed to 3.54% of total exports in the quarter. 

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Imports Classified by Standard International Trade Classification and country of Origin 

Nigeria’s imports trade stood at 2,348. 64 billion naira in 2017 Q3, among which 648.83 billion-naira imports were Machinery & transport equipment (27.63% of total import) and 602.89 billion-naira imports were Mineral fuel (25.67). 

The value of the first category stated above in total imports increased by 20.59% while the second one decreased by 14.78% from the previous quarter. Machinery & transport equipment also replaced Mineral products as the top imported products in the reviewing quarter.

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In the third quarter, most imported products are from Europe and Asia, which contributed to 43.51% and 39.62% of the total imports respectively. Nigeria’s import trade by direction showed that the Country imported goods mostly from China, USA, Netherland, India and UK, which respectively accounted for 22.26% (522.84 billion), 7.98% (187.43 billion), 7.64% (179.45 billion), 5.08% (119.33 billion) and 4.11% (96.63 billion).

China remained the top importing partner while U.S.A. replaced Belgium to be the second largest importing partner for Nigeria in Q3. Import from Africa accounted for 103.10 billion naira or 4.39% of the total value an import from Economic Community of West African States (ECOWAS) accounted for 28.60 billion naira or 1.22% of the total value.

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Exports Classified by Standard International Trade Classification and Country of Origin 

The structure of the export trade is still dominated by crude oil exports, which contributed 2,971.94 billion or 83.17% to the value of total exports in Q3 2017. 

Exports by section revealed that Nigeria exported mainly mineral products, which accounted for 3,475.01 billion or 97.2% of the total export value. The second largest component was “Prepared foodstuffs; beverages, spirits and vinegar; tobacco” which contributed to 25.81 billion naira or 0.7% of the total exports. 

In the third quarter, Nigeria exported most products to Europe (1,292.94 billion naira), Asia (1,034.81 billion naira) and America (826.98 billion naira). Value of Exports to Africa were only recorded 367.28 billion naira, among which 114.93 billion naira of goods were exported to ECOWAS countries. 

India remained the top exporting partner for Nigeria in the reviewing quarter. The five top exporting partners are India, U.S.A., Spain, Netherland, France, and Canada, whose values stood at 623.21 billion naira or 17.44 %, 497.52 billion naira or 13.92 %, 355.93 billion naira or 9.96 %, 242.79 billion naira or 6.79 %, and 225.71 billion naira or 5.32% respectively. These five countries accounted for 54.44% of the total exports in 2017 Q3.

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Export/Imports Products Classified by Sectors Q3 2017 

Agricultural Goods Sector 

The total value of trade in agricultural goods in Q3 2017 stood at N253.68 billion representing 4.30% of total trade in Q3 2017.  Agricultural exports accounted for 0.60% of total exports in Q3 2017. 

Exports of Agricultural goods in Q3 2017 was valued at N21.47 billion compared to N29.71 billion in Q2 2017 and N30.02 billion in Q1 2017. Agriculture goods exports in Q3 2017 were therefore 38.43% lower than the value in Q2 2017 but 25.29% higher than the export value in the corresponding period in 2016. In terms of trading partners, agricultural product exports in Q3 2017 were to Europe (46.05%), Asia (39.13%), and to the Americas, Africa, and the Oceania at 12.17%, 2.32% and 0.33% respectively. 

In terms of the type of agricultural product, agriculture exports in Q3 2017 were driven by the export of Sesamum seeds which accounted for N5.66billion or 26.36% of the total agriculture exports and 0.16% of total exports. During the quarter under review, sesamum seeds worth N1.45 billion were exported to Turkey, N1.08 billion to China, N0.93 billion to Japan, N0.38 billion to Germany, and N0.35 billion to the Netherlands. 

Sesamum seed exports were followed by Frozen shrimps & prawn exports valued at N4.77 billion or 22.23% of total agriculture exports. Frozen shrimps and prawns were exported in Q3 2017 principally to the Netherlands (N2.96 billion), Belgium (N0.95 billion), Vietnam (N0.36 billion), United States (N0.26billion), and France (N0.19 billion). Other major agricultural products included Soya beans worth N3.27billion or 15.22% of total agriculture exports which were exported mainly to Italy (N3.22 billion), the balance was exported to Angola (N0.03 billion), and Mauritania (N0.02 billion). 

Exports of cashew nuts fell this quarter with exports recorded at N3.09 billion, or 14.38% of agricultural exports in Q3 2017, mainly to Vietnam (N2.5 billion), and to India (N0.6 billion) Ghana.  Other agriculture exports in Q3 2017, included flour and soya bean meal (N1.14 billion), flowers (N640 million), ginger (N367 million), Nigerian cotton lint (N352 million) amongst others. 

With regards to imports, agricultural imports valued at N232.2 billion were imported in Q3 2017 compared to N232.1 billion in Q2 2017 and N200.1 billion in Q1 2017. This represents a 0.05% increase over Q2 2017 and a 16.91% increase over Q3 2016. Nigerian agricultural imports in Q3 2017 accounted for 9.89% of total imports in the quarter under review.  

Major imported agriculture imports in Q3 2017 included Durum wheat (not in seeds) worth N19.19 billion from Russia, N12.5 billion from the United States, N12.2 billion from Australia, N10.17 billion from Canada amongst others as well as Crude palm oil, valued at N10.2 billion from Indonesia, N4.2 billion from Ivory Coast and N0.02 billion from Ghana. 

Nigeria also imported other agricultural goods including maize seed valued at N8.55 billion from Argentina, N3.97 billion from United States, N1.24 billion from Singapore, N0.15 billion from China, and N0.01 billion from Turkey in Q3 2017. Mackerel valued at N3.04 billion was also imported from Russia, N2.77 billion from Faroe Island, N1.76 billion from Ireland, N1.31 billion from Netherlands, and N1.1 billion from Mauritania.

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Solid Minerals Sector 

The total value of solid minerals trade in Q3 2017 stood at N35.33 billion representing 0.06% of total trade in Q3 2017.

Solid minerals exports in Q3 2017 stood at N20.82 billion representing 0.58% of total exports in Q3 2017. The value of solid minerals exports in Q3 2017 was 85.3% higher than the value of N3.01 billion recorded in Q2 2017 and 78.72% more than the value of N4.43 billion in Q3 2016. 

In Q3 2017, Nigeria exported Naphtalene worth N6.88billion to the Netherlands, N4.77 billion to United States, and N3.06 billion to Togo. Nigeria also exported other cement bulk worth N2.5 billion to Niger Republic, N1.56 billion to Ghana, and N1.18 billion to Togo; as well as Zinc ores and concentrates worth N400.38 million mainly to China; and Lead ores and concentrates worth N126.53 million were exported to China, N30.46 million to Poland, N.717 million to Germany, and N6.11 million to Spain in Q3 2017. 

Other Niobium, tantalum, vanadium ores and concentrates worth N134 million were exported to China in Q3 2017. 

With respect to imports, solid minerals imports valued at N14.51 billion were imported in Q3 2017, representing 0.62% of total imports in Q3 2017.  The value of solid minerals imports in Q3 2017 was 1,220% less than the value of N191.57 billion recorded in Q2 2017 and 8.69% less than Q3 2016. 

Nigeria imported Crude salt worth N1.68 billion from Brazil, N1.33 billion from Namibia, N173.36 million from Turkey, N22.79 million from the United Kingdom, and N5 million from Germany. Plasters of calcined gypsum worth N2.11 billion was imported from Turkey, N285.9 million from Tunisia, N232.53 from Egypt, N163.96 million from China, and N135.01 million from Morocco. 

Gypsum worth N1.47 billion was imported from Spain; while N1.11 billion worth of Ecaussine and alabaster was imported from China, N136.88 million from Italy, and N132.38 million from Germany.  

Other types of coal worth N1.13 billion was imported in the review period from the United Arab Emirates. 

Manufactured Goods Sector 

The total value trade in manufactured goods stood at N1.26 trillion representing 21.3% of total trade in Q3 2017.  

Manufactured goods exports stood at N50.13 billion representing 1.40% of total exports in Q3 2017.  Exports of manufactured goods in Q3 2017 was 62.68% less than the value in Q2 2017 and 22.98% higher than the level in Q2 2016. 

In Q3, 2017, exports of manufactured goods were dominated by Vessels and other floating structures for breaking up with an export value of N6.27 billion to Angola, N2.29 billion to Ireland, and N1.37 to China.  Cigarettes containing tobacco worth N2.36 billion was exported to Niger Republic, N1.78 billion to Ivory Coast, N1.2 billion to Cameroon, and N822 million to Republic of Guinea. 

Fermented Nigerian cocoa beans worth N2.11 billion were exported to Indonesia, N1.93 billion to Netherlands, N1.86 to Malaysia, N244 million to Estonia, and N168 million to the United States. Nigeria also exported Cocoa butter, fat and oil worth N1.61 billion, N771.52 million, N703.39million, N525.02 million, and N190.79 million to Netherlands, Germany, Estonia, France, and the United Kingdom respectively in Q3 2017 amongst others. 

Analysis of imports of manufactured goods showed that goods representing 51.66% of total imports and valued at N1.2trillion were imported in Q3 2017. This value was 4.08% higher than the value recorded in Q2 2017 and also 2.79% higher than the value recorded in Q3 2016. 

Manufactured goods imports in Q3 2017 was dominated by imports of other Used vehicles worth N24.76 billion from the United States, N2.07 billion from Germany, N1.67 billion from Canada, N1.66 billion from Belgium, and N928.93 million from the United Arab Emirates. Also Imported motorcycles and cycles worth N15.26 billion was imported from India, N8.15 billion from China, and N530 million from Hong Kong. 

Milk & cream in powder specially formulated for infants worth N8.42 billion was imported from New Zealand, N5.49 billion from the Netherlands, N3.63 billion from Germany, and N3.29 billion from Denmark amongst others; while Polypropylene worth N8.24 billion was imported in Q3 2017 from South Africa, N6.07 billion from Saudi Arabia, N2.53 billion from South Korea, N1.34 from Brazil, an N683.31 million from United States. 

Other appliances such as taps, cocks, and other valves, worth N12.32 billion were also imported from the United Kingdom, N3.21 billion from China, N2.28 billion from the United States, N926 million from Norway, and N647 million from Italy in Q3 2017.

Raw Material Goods Sector 

The total value of trade in raw materials in Q3 2017 stood at N311.52 billion representing 5.3% of total trade. 

Raw material goods exports stood at N26.19 billion representing 0.73% of total exports in Q3 2017.  Exports of raw materials in Q3 2017 was 16.88% more than the value in Q2 2017 and 70.42% higher than the level in Q3 2016. 

During the quarter, Nigeria exported raw material products like Urea worth N7.98 billion to Brazil, N1.06 billion to Republic of Benin, and N520 million to Senegal amongst other countries. Leather worth N2.9 billion was also exported to Italy, N698.4 million to Spain, N193.25 million to China, N82.81 million to Turkey, and N1.76 million to United Kingdom. 

Other raw materials exported within the period under review include Technically specified natural rubber valued at N922.87 million to Spain, N554.94 to Netherlands, N527.41 million to France, N477.83 million to South Africa, N472.60 to Italy; and Untreated wood products to China valued at N897.55 million and Cocoa shells, husks, skins, and other cocoa waste to Germany valued at N426.82 million, and to Spain valued at N188.62. 

With respect to imports, Nigeria imported Cane sugar meant for sugar refinery worth N34.76 billion from Brazil.  Mineral or chemical fertilizers worth N8.74 billion from Morocco, and N2.47 billion from the United Arab Emirates. 

Other raw materials like Mixtures of odoriferous substances were imported from Ireland (N9.54 billion), from Germany (N868.79 million), and Switzerland (N370.18 million), amongst others.

Trade Intensity in Q3 2017 

Export Intensity Index with Five Major Trading Partners 

The export intensity index compares the share of exports to each country in Nigeria’s total exports, with the share of world exports going to that country, and therefore gives a measure of the importance of that country to Nigeria as an export destination. A higher number denotes a stronger relationship, and an index of one indicates that exports to that country are what would be expected given global trade patterns. 

The export intensities of Nigeria in Q3 2017 showed Nigeria had a strong export relationship with India, with export intensities of 4.01, 5.73, and 2.24 for July, August and September respectively. Spain also recorded relatively higher export intensity index than the other three major trading partners of 3.87, 3.06, and 1.79 in the three months of the third quarter respectively. However, exporting intensity for all the top five exporting partners declined significantly in September.

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Import Intensity Index with five Major Trading Partners 

During the quarter, the import intensity of Nigeria with the top five importing partners showed similar pattern to the exporting intensity with top exporting partners with the index stronger in the first two month and a decline in September.  Belgium showed highest importing intensity for the three months, followed by India, Netherland, China and the United States

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Trade by Mode of Transport 

In Q3 2017, Nigeria’s major mode of transporting its goods to partner countries was by water.   Transport of goods by water accounted for N3, 557.41 billion naira or 99.55% of total export. The goods exported through the road were valued at N9.81 billion naira while goods exported through the air totaled N1.56 billion naira. 

For import trade, the major mode of transporting goods into the country was through water transport. The water transport accounted for N2, 208.60.7 billion naira or 94.04. Goods that entered the country through Road transport accounted for N14.81 billion naira or 0.63 % while those that entered through Air transport accounted for N125.19 billion naira or 5.33 %. 

Trade by Custom Ports and Post 

The leading port of operation during the quarter was the Apapa Port. Goods worth N3.5 trillion exited the country through this port. The next leading port of operation was Tin Can Island through which goods worth N28.91 billion were shipped to partner countries. Port Harcourt (1) was also very active and goods worth N16.02 billion exited the country through the port. 

Other active ports in operation during the period were Port Harcourt (3), Muhammed Murtala Cargo, Seme Border Post, and Kebbi Area Command.  Similarly, goods that entered Nigeria through Apapa Port was valued at N1.2 trillion, Tin can Island at N485.32 billion, Muhammed Murtala Cargo at N221.53 billion and Port Harcourt (3) at  N130.62 billion respectively. 

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Click Here to Download Q3 2017 Foreign Trade Statistics (PDF) Report 

2017 NBS Reports 

Q4 2017

1.  2,478 Road Traffic Crashes Recorded in Q3 2017 - NBS

2.  States Generate N149.45bn as IGR in Q3 2017 - NBS

3.  Total Value of Capital Imported into Nigeria in Q3 2017 Estimated at $4,145.1m - NBS

4.  FAAC Disburses N558.08bn in October 2017 -NBS

5.  GDP Grew by 1.40% in Q3’17 from 0.72% in Q2’17; 2nd Consecutive Quarter of Positive Growth

6.  Average Motorcycle Fare per Drop Increased by 4.52% YoY in October 2017

7.  Average Prices of PMS, AGO, HHK and Cooking Gas – October 2017


8. Headline Inflation Drops to 15.91% in October 2017, 0.07% Lower Than 15.98% September Rate

9.  Average Price of 1kg of Yam Tuber Increased by 10.22% YoY in October 20

10.  596,792 Passengers Travelled Via the Rail System in Q2 2017 - NBS

11.   7.71m Workers Are Registered Under the Pension Scheme as at Q3 2017 - NBS

12.  Daily Energy Generation Attained a Peak of 3,880MW in Q3 2017 - NBS

13.  FAAC Disburses N637.70bn in September 2017 - NBS

14.  GDP by Income and Expenditure Approach – Basic Price GDP Declined by 1.73% Real Term in Q4’16

15.   N246.30bn Generated as VAT in Q2 2017 - NBS

16.  Lagos State Has 7,396 Prison Inmates Population in 2016 - NBS

17.   Average Prices of PMS, AGO, HHK and Cooking Gas - September 2017

18.  Average Air Fare Increased by 31.31% YoY in September 2017

19.  Average Price of 1kg of Yam Tuber Increased by 28.65% YoY in September 2017

20. CPI Drops to 15.98% in Sept 2017, 0.03% Lower Than 16.01% August Rate

21.  Multiple Indicator Cluster Survey 2016-17

22. Pension Fund Asset under Management as at 31 December 2016 stood at N6,164.76bn - NBS

23. 835.58m Crude Oil Processed from 1997 to 2014

24. N701.85bn Gross Revenue Generated in July 2017


Q3 2017

25.  FAAC Disburses N467.85bn in August 2017 - NBS

26. Lagos Accounted for 74.8% of International Passenger Traffic in Q2 2017

27.  Lagos State Has the Highest Foreign and Domestic Debts as at June 2017

28. CPI Drops to 16.01% in August 2017, 0.04% Lower Than 16.05% July Rate

29. Average Air Fare Increased by 32.75% YoY in August 2017

30. Average Prices of PMS, AGO, HHK and Cooking Gas - August 2017

31.  Average Price of 1kg of Yam Tuber Increased by 53.98% YoY in August 2017

32. Nigeria’s Merchandise Trade Grew Marginally QoQ but Significantly YoY in Q2 2017

33. 2,287 Drug Abuse Convictions Secured in 2016 - NBS

34. Average Price of 1kg of Tomato Increased YoY by 15.65% in July 2017 - NBS

35.  Average Prices of PMS, AGO, HHK and Cooking Gas - July 2017

36. Average Intercity Fare Increased YoY by 27.49% in July 2017 - NBS

37.  CPI Drops to 16.05% in July 2017, 0.05% Lower Than 16.10% June Rate

38. Total Value of Capital Imported into Nigeria in Q2 2017 Estimated at $1,792.3m - NBS

39. FAAC Disburses N652.23bn in July 2017 - NBS

40. Active Voice Subscribers Dropped by 6.67% in Q2 2017 – NBS

41.  Banking Sector Records 327.37m Volume of Transactions in Q2 2017 - NBS

42. 870,397 Candidates Sat for NECO in June and July 2016

43. 3,457 Nigerians Repatriated from Abroad in 2016 – NBS

44. Corruption in Nigeria - Bribery as Experienced by the Population

45.  Nigeria Produced 656.8m Barrels of Crude Oil in 2016

46. 2,503 Road Traffic Crashes Recorded in Q2 2017 - NBS

47.  Daily Energy Generation Attained a Peak of 4,079MW in Q2 2017 - NBS

48. 7.59m Nigerians Are Registered Under the National Pension Scheme as at Q2’17 - NBS

49. FAAC Disburses N462.36bn in June 2017 - NBS

50. NBS Annual Abstract of Statistics 2016

51.   Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - June 2017

52.  Average Intercity Transport Fare Decreases to N1,559.68 in Jun’17 from N1,565 in May’17

53.  Average Price Of 1kg Of Yam Tuber Increased YoY by 32.84% in June 2017 -NBS

54.  CPI Drops to 16.10% in June 2017, 0.15% Lower Than 16.25% May Rate


Q2 2017

55.  FAAC Disburses N418.82bn in May 2017 - NBS

56.  GDP By Income and Expenditure Approach – Basic Price GDP Declines by 2.3% in Q3’16 - NBS

57.  Average Price Watch of PMS, AGO, HHK and Cooking Gas - May 2017

58.   Average Intercity Transport Fare Decreases to N1,5865. in May’17 from N1,587.04 in Apr’17

59.  Average Price Of 1kg Of Yam Tuber Increased YoY by 52.69% in May 2017 - NBS

60. CPI Drops to 16.25% in May 2017, 0.99% Lower Than 17.24% April Rate

61.  N204.77bn Generated as VAT in Q1 2017 - NBS

62. 125,790 Cases of Reported Offences Recorded in 2016 - NBS

63. Labour Productivity Rose to N684.43 in 2016 - NBS

64. Merchandise Trade Grew By 0.1% - Positive Trade Balance Due to Rising Exports & Falling Imports

65.  Unemployment Rate Rises to 14.2% in Q4’16 from 13.9% in Q3’16 - NBS

66. Lagos Airport Accounted for 76.5% of International Passengers in Q1 2017 - NBS

67.  FAAC Disburses N496.39bn in April 2017 - NBS

68. Banking Sector Records 304.31 mln Volume of Transaction in Q1 2017 - NBS

69. Total Value of Capital Imported into Nigeria in Q1 2017 Estimated at $908.27m - NBS

70. GDP Contracts by -0.52% in Q1’17 from -1.73% in Q4’16; 5th Consecutive Quarter of Contraction

71.   Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch – April 2017

72.  Average Intercity Transport Fare Increases to N1,587.04 in Apr’17 from N1,466.46 in Mar’17

73.  Average Prices of 1kg of Yam Tubber Increased by 42.45% YoY in April 2017

74.  CPI Drops to 17.24% in April 2017, 0.02% Lower Than 17.26% March Rate

75.  Lagos, Rivers Top IGR for Full Year 2016

76.  Telecoms Subscribers Dropped by 1.33% in Q1 2017 - NBS

77.  Nigeria Imports 4.05bn Litres of PMS in Q1 2017 - NBS

78. Lagos State has the highest domestic and foreign debt profile in 2016 - NBS

79.  2,556 Road Traffic Crashes Recorded in Q1 2017 - NBS

80.FAAC Disburses N466.93bn in March 2017

81.  Daily Energy Generation Attained a Peak of 5,846 MW in Q1 2017 - NBS

82. Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - March 2017

83. Average Intercity Transport Fare Increases to N1,466.46 in Mar’17 from N1,411.87 in Feb’17

84. Average Prices of 1kg of Yam Tubber Increased by 63.4% YoY in March 2017

85. CPI Drops to 17.26% in March 2017, 0.52% Lower Than 17.78% February Rate

86. 7.49m Nigerians Are Registered Under the National Pension Scheme As At Q1 2017 - NBS

87. Lagos Airport Accounted for 69.1% of International Passengers in 2016 - NBS


Q1 2017

88.11,363 Road Traffic Crashes Recorded in 2016 - NBS

89. FAAC Disburses N514.15bn in February 2017

90. FAAC Disburses N430.16bn in January 2017

91.  Average Intercity Transport Fare Decreases to N1,411.87 in Feb’17 from N1430.63 in Jan’17

92. Average Price of 1kg of Rice Increased by 68% YoY in February 2017

93. Average Prices of PMS, AGO, HHK and Cooking Gas Price Watch - February 2017

94. CPI Drops to 17.78% in February 2017, 0.94% Lower Than 18.72% January Rate

95.  Nigeria Produced 43.49m Tons of Solid Minerals in 2016 - NBS

96. NIPOST Generates N8.84bn Revenue in 2016 - NBS

97.  Q4 2016 Merchandise Trade Intensity - Total Trade Grows by 6.5% in 2016

98. Merchandise Trade Grows in Q4 2016 - Records First Quarterly Positive Trade Balance Since Q4 2015

99. GDP Contracts by -1.30% in Q4 and -1.51% for Full Year 2016; Is Nigeria on Its Way Out of Recession?

100. JAMB Received 11.7m Applications Between 2010 and 2016

101. Average Kerosene Price Increases to N433.84 in Jan'17 from N231.85 in Dec'16

102. Average Intracity Transport Fare Increases to N122 in Jan'17 from N84.29 in Dec'16

103. Average Cooking Gas Price Increases to N2,567.56 in Jan’17 from N2,002.16 in Dec’16

104. Average Diesel Price Increases to N240.52 in Jan’17 from N196.20 in Dec’16

105. Average Petrol Price Increases to N148.7 in Jan'17 from N146.7 in Dec'16

106.  CPI Rises to 18.72% in January 2017, 0.17% Higher Than 18.55% December 2016 Rate

107.  GENCOs Issued Total Invoice of N331bn to DISCOs in 2016

108.  Nigeria Produced 5.79 mln Tonnes of Fish Between 2010 and 2015

109.  4,296 Applications Were Received by NAFDAC for New Products Registration in 2016 - NBS

110. 19,833 Vessels Berthed At Nigerian Ports Between 2013 and 2016 - NBS

111.  Total Value of Capital Imported into Nigeria in Q4 2016 Estimated at $1,548.88mln - NBS

112.  Telecoms Sector Contributes N1,399bn to GDP in Q3 2016 - NBS

113. FAAC Disburses N426.88bn in December 2016 - NBS

114. Banking Sector Records 910.18m Volume of Transaction in 2016 on Electronic Payment Channels - NBS

115.  Daily Energy Generation Attained a Peak of 3,859.59MW in Q4 2016 - NBS

116. 10.8% of Nigeria's Total Working Population Are Registered Under The National Pension Scheme - NBS

117. Nigeria Imports 4.83 bn Litres of PMS in Q4 2016 - NBS

118. 72.53% of Nigeria’s Prison Population in 2015 were Un-sentenced - NBS

119. Lagos, Ogun Top IGR for H1 2016


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