Economy
Nigeria’s Total Foreign Trade Drops 18% in Q1 2020
By Adedapo Adesanya
Nigeria’s total foreign trade, which accounts for both import and export, dropped 18 percent (quarter-on-quarter) in the first quarter of 2020 to N8.3 trillion compared to N10.1 trillion in the fourth quarter 2019.
This was disclosed in the latest foreign trade report released by the National Bureau of Statistics (NBS) released on Tuesday.
According to the report, the year-on-year total foreign trade increased by 0.8 percent from N8.2 trillion in Q1 2019 to N8.3 trillion in Q1 2020, reflecting the early effects of disruption caused by COVID-19 pandemic which started in March.
Total import for the period stood at N4.22 trillion while total export was N4.08 trillion indicating a negative trade balance of N138.99 billion.
The value of total imports decreased by 21.08 percent in Q1, 2020 compared to the value recorded in Q4 2019 but was 13.9 percent higher when compared with Q1, 2019.
According to the report, crude oil export dropped by 18.9 percent in Q1 2020 to N2.9 compared to N3.63 trillion recorded in Q4 2019.
Non-crude oil export also reduced, although marginally by 0.27 percent to N1.14 trillion as against N1.14 trillion recorded in the preceding quarter Q4 2019.
Exported agricultural goods stood at N126.35 billion in Q1 2020, indicating 85.4 percent increase compared to N68.2 billion recorded in Q4 2019.
According to the report, the majorly traded agricultural products include; Sesamum seeds, Good fermented cocoa beans, superior quality raw cocoa beans, Natural cocoa butter, Cashew nuts, Ginger among others.
Another booming sector which the country is banking on to diversify – manufacturing, showed that goods exports decreased by 12.7 percent in value in the first quarter 2020 compared to Q4 2019.
In terms of destination, Nigeria exported goods majorly to India, Spain, Netherlands, South Africa and Cameroon while major import sources include China, Netherlands, United States, India and Belgium.
India accounted for 15.6 percent to N637.5 billion of the total value of exported goods by region, followed by Spain which accounted for 9.9 percent to N402.9 billion of our total exports between January and March 2020.
In terms of import, Nigeria imported goods valued at N1.11 trillion from China, accounting for 26.3 percent of the total value of exported items in the first quarter of 2020 followed by the Netherlands, which accounted for 11.1 percent amounting to N470.11 billion of the total export.
Also, imports from African countries stood at N118.9 billion in Q1 2020, representing 2.8 percent of Nigeria’s total import between January and March 2020.
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.
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