Tag: foreign trade

  • Presidential State Visit to Türkiye Focuses on Bilateral Trade and Security

    Presidential State Visit to Türkiye Focuses on Bilateral Trade and Security

    President Bola Ahmed Tinubu is departing Abuja on January 26, 2026, for a state visit to the Republic of Türkiye aimed at strengthening bilateral ties and signing new Memoranda of Understanding across security, aviation, and scientific research.

    The delegation includes the Minister of Foreign Affairs, the Minister of Defence, and the Attorney General, with talks expected to focus on increasing trade volume and deepening cooperation in defense technology and infrastructure. Officials say the discussions will target practical outcomes that improve Nigeria’s security capacity and economic performance.

    Despite the strategic importance of the trip, the presidency has faced criticism over the level of detail released about the itinerary. Government officials maintain that the engagement is designed to deliver measurable economic and security benefits, and that both countries will also hold strategic political and diplomatic discussions around shared priorities.

    Echotitbits take: Nigeria is looking to Türkiye as a key partner for defense procurement and agricultural technology. The success of this trip will be measured by the concrete investment figures in the defense and manufacturing sectors by year-end.
    Source: State House – https://statehouse.gov.ng/president-tinubu-to-undertake-state-visit-to-turkiye/ 2026-01-26

    Photo Credit: State House Media

  • Nigeria posts ₦6.69tr Q3 trade surplus as exports stay ahead of imports

    Nigeria posts ₦6.69tr Q3 trade surplus as exports stay ahead of imports

    2025-12-15 08:00:00

    According to The Punch, Nigeria recorded a ₦6.69 trillion trade surplus in Q3 2025, with exports of about ₦22.81tn outweighing imports of about ₦16.12tn, continuing a run of positive trade balances.

    Punch quotes analysts attributing the performance to FX-market reforms, liberalisation and currency adjustments that improved export competitiveness while making some imports more costly.

    The report notes crude oil remained the dominant export, while stakeholders called for policy consistency and deeper non-oil export expansion to sustain gains.

    Analysis/Echotitbits take: A sustained surplus can ease external financing pressure, but it matters what’s driving it—higher export value-add or simply weaker import demand. Watch non-oil export momentum, crude output stability, and how FX policy affects manufacturers’ input costs.

    Source: The Guardian Nigeria News — December 12, 2025

    Photo credit/source: The Guardian Nigeria News

    The Guardian Nigeria News https://guardian.ng/business-services/nigeria-records-trade-surplus-of-n6-9tr-in-q2-2024-nbs/ December 12, 2025