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NBS says Nigeria Records N495Bn Drop in Merchandise Trade

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Dr Yemi kale, Statistician-General of the Federation
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The National Bureau of Statistics (NBS) has said the country recorded a decrease of N495.3bn in total external merchandise trade from N5.658tn in the third quarter of 2013 to N5.162tn in the fourth quarter.

In the trade report released on Wednesday and signed by Dr. Yemi Kale, statistician general of the Federation/chief executive, NBS, said the N495.3bn represents a decrease of 8.8 per cent over what was recorded in the third quarter.

The report attributed the change to a decline in the value of imports and exports by 19.1 per cent and 2.7 per cent respectively from the previous quarter.

For instance, it said while the value of imports declined from N2.084tn in the third quarter to N1.686tn  in the fourth; the value of exports also dropped from N3.573tn to N3.476tn over the same period.

The resulting trade balance of N1.790tn according to the report,  represented an increase of N302.2bn or 20.3 per cent  from the preceding quarter.

On a year-on-year comparison, the report said that total trade was N21.261tn for the 2013 calendar year, indicating a decrease of 24.3 per cent or N6.810tn  lower than N28,071tn recorded for 2012.

The report blamed the drop to a 36.5 per cent decline in exports.

The crude oil component of total exports, according to the report, stood at N2.981tn for the fourth quarter, while the non-crude oil accounted for N495.2bn.

When classified by sections, the report revealed that boilers, machinery and appliances accounted for the largest share of imports, with N355.9bn or 21.1 per cent of total imports.

Other significant imports to Nigeria during the period under review included vehicles, aircrafts and parts with N293.6bn or 17.4 per cent, and mineral products with N230.3bn or 13.7 per cent of the total import bill.

Summarising imports by region, the report stated that the greatest value of imports to Nigeria in the fourth quarter of 2013 came from Asia, with N746.9bn or 44.3 per cent of total imports.

This was followed by Europe with N554.6bn or 32.9 per cent, the Americas with N267.3bn (15.9 per cent), Africa with N102.8bn (6.1 per cent) and Oceania with N14.4bn (0.9 per cent).

The report added that “ECOWAS contributed N48.0bn, or 46.7 per cent of the total imports from the Africa region.

“The individual countries with the five greatest import values are China, United States, South Korea, Netherlands and India, with Nigeria consuming N374.1bn, N185.1bn, N122.5bn, N95.7bn and N90.7bn of goods respectively.”

In terms of exports,  the report revealed that “Mineral products dominate Nigerian exports, contributing N3.167tn or 91.1 per cent of the total.

“This is followed by prepared foodstuff, beverages, spirit and vinegar, tobacco with N100.9bn or 2.9 per cent and vegetable products with N 51.641bn or 1.5 per cent of total exports of the quarter.”

It explained that the continent with the largest consumption of Nigerian export   was Europe, which received N1.416tn  or 40.8 per cent of the total exports.

This is followed by Asia with N881.7bn or 25.4 per cent of exports, Africa with N439.8bn or 12.7 per cent, and The Americas with N435.5bn or 12.5 per cent of exports.


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Anambra Cuts Monday Pay to Kill Sit-at-Home

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Anambra State will implement pro-rata salary payments for civil servants starting February 2026, targeting chronic Monday absenteeism from the long-running sit-at-home order, Information Commissioner Dr. Law Mefor announced Saturday.

Anambra Cuts Monday Pay to Kill Sit-at-Home

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Speaking at an Awka briefing after the Executive Council’s end-of-tenure retreat, Mefor said improved security and transport have eliminated excuses for the four-year disruption, which cost the state trillions in lost revenue. “Workers enjoyed full pay despite staying away; now, no work means no pay for that day, calculated over 24 working days,” he stated.

Compliance measures include mandatory Monday clock-in forms, with markets urged to reopen fully amid bolstered security. This builds on a January 22 executive order docking 20% pay from teachers absent on Mondays.

Mefor warned that lost Mondays cripple revenue collection and productivity, rejecting alternatives like Saturday shifts as capitulation to agitators.


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Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

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As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.

“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.

Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.

To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.

Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.

“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.

He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.


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35 Million Nigerians Face Acute Hunger in 2026, UN Warns

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About 35 million Nigerians face acute hunger risks in 2026, including three million children battling severe malnutrition, the United Nations has warned, attributing the crisis to collapsing global aid budgets and escalating violence in the northeast.

35 Million Nigerians Face Acute Hunger in 2026, UN Warns

UN Resident and Humanitarian Coordinator Mohamed Malick Fall disclosed this on Thursday during the launch of the 2026 humanitarian plan in Abuja, noting that the traditional foreign-led aid model proves unsustainable amid Nigeria’s escalating needs.

He highlighted dire conditions in Borno, Adamawa and Yobe states, where over 4,000 people perished in the first eight months of 2025 from surging suicide bombings and attacks—equalling the entire previous year’s toll.

The UN now targets $516 million to deliver lifesaving aid to 2.5 million people this year, a sharp drop from 3.6 million in 2025 and half of prior levels, forcing prioritisation of only the most critical interventions.

Fall stressed, “These are not statistics. These numbers represent lives, futures and Nigerians,” as shortfalls last year compelled the World Food Programme to halt support for over 300,000 children after resources dried up in December.

Yet, Fall acknowledged Nigeria’s increasing national ownership, including local funding for lean-season food assistance and proactive flood early-warning systems, signalling a shift toward self-reliant crisis response.


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