Economy
Nigeria Records N1.206trn Trade Surplus, N52.387trn Total Trade in 2022
By Aduragbemi Omiyale
In 2022, Nigeria recorded a slight improvement in its trade balance as it had a trade surplus of N1.206 trillion after recorded imports of N25.591 trillion and exports of N26.797 trillion, indicating a total trade of N52.387 trillion.
Data released by the National Bureau of Statistics (NBS) said in the fourth quarter of 2022, the total trade stood at N11.722 trillion, with exports at N6.360 trillion and imports at N5.363 trillion.
It was disclosed that total exports increased in Q4 of 2022 by 7.17 per cent and 10.28 per cent when compared with the third quarter of 2022 at N5.934 trillion and the corresponding quarter of 2021 at N5.767 trillion, respectively.
Conversely, total imports declined by 15.46 per cent in the fourth quarter of 2022 compared with the value recorded in the third quarter of 2022 at N6.344 trillion and fell by 9.73 per cent when compared with the N5.941 trillion recorded in the corresponding quarter of 2021.
The top five export destinations in the fourth quarter of 2022 were Spain, Netherlands, India, France, and Indonesia, accounting for 9.70 per cent, 9.03 per cent, 7.71 per cent, 7.70 per cent, and 7.44 per cent, respectively, of total exports.
Altogether, exports to the top five countries amounted to 41.59 per cent of the total value of exports.
The commodity with the largest export values in the period under review was ‘petroleum oils and oils obtained from bituminous minerals, crude’ with N4.912 trillion, representing 77.24 per cent, followed by ‘natural gas, liquefied’ with N704.88 billion, accounting for 11.08 per cent, and ‘urea, whether or not in aqueous solution’ with N160.56 billion or 2.52 per cent of total exports.
In terms of imports in the fourth quarter of 2022, China, Belgium, India, The Netherlands, and the United States of America were the top five countries of origin of imports to Nigeria.
The value of imports from the top five countries amounted to N2.994 trillion, representing a share of 55.82 per cent of the total value of imports.
The commodities with the largest values of imported products were ‘motor spirit ordinary’ at N1.559 trillion, ‘gas oil’ accounted for N220.47 billion, and ‘durum wheat (Not in seeds)’ accounted for N187.96 billion.
Re-export’s value in the quarter under review stood at N199.59 billion, representing 3.14 per cent of total exports, with the top five re-export destinations listed as Namibia, Equatorial Guinea, Cameroun, Ghana, and Togo while the most re-exported commodity was ‘floating or submersible drilling or production platforms with N142.02 billion, followed by ‘cruise ships and similar vessels for the transport of persons or goods <=500 tonnes’ valued at N14.78 billion and ‘refrigerated vessels, other than those of subheading 8901.20, of a capacity > 500 tonnes’ amounting to N13.16 billion.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn