Nigeria's leading finance and market intelligence news report.

Updated: Nigeria records first trade deficit in 4yrs as COVID-19 hurts export

For the first time in four years, Nigeria’s trade position was negative in 2020 as the COVID-19 pandemic crushed oil demand, sending the revenue of oil-exporting countries tumbling. Africa’s largest oil producer posted a N7-trillion trade deficit in 2020, with exports falling as much as 35 percent, according to data published Tuesday by the National…

Don’t miss another story

Become a BusinessDay Subscriber today.

For insights, facts, figures, and access to opportunities.
Options starting from N1000 Monthly
Already a subsriber?

Get real time updates directly on you device, subscribe now.

Comments are closed.