Nigeria Spends N9.28 Trillion On Manufactured Items In Nine Months

Buhari Presents N10.3tr 2020 Budget Bill To National Assembly

A total of N9.28 trillion was spent on the importation of manufactured goods into the country between January and September 2020, according to latest data from the Nigerian Bureau of Statistics (NBS)

The NBS data released last Thursday show that manufactured goods imported into the country rose significantly in the third quarter of last year as the manufacturing sector was hard hit by the Covid-19 disruptions, border closure and the scarcity of foreign exchange.

The Nbs data also showed that manufactured goods imported into the country in the third quarter were valued at N3.83 trillion, up from N2.78 trillion in second quarter and N2.66 trillion in the first quarter

Manufactured goods imports increased in value by 23.18 per cent in third quarter compared to second quarter and 23.47 per cent year-on-year.

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