Echotitbits – Nigeria News

Tag: Nigeria exports

  • NSDC and NEXIM Partner to Secure $2 Billion Funding for Sugar Industry

    NSDC and NEXIM Partner to Secure $2 Billion Funding for Sugar Industry

    In an update published by The Punch, the National Sugar Development Council (NSDC) and the Nigerian Export-Import Bank (NEXIM) have entered a strategic partnership to revolutionize Nigeria’s sugar sector. The agreement, finalized in Abuja, aims to secure long-term financing through an Engineering, Procurement, Construction, and Financing (EPCF) model. This framework is designed to support commercially viable sugar projects that can meet the domestic demand, currently valued at approximately $2 billion.

    Under the new arrangement, the NSDC will focus on preparing investment-ready projects and assisting with equity raises. Meanwhile, NEXIM Bank will leverage its international network to attract funding from export credit agencies and development finance institutions. The partnership also includes safeguards such as risk insurance and guarantees to protect investors. This move is part of a broader government policy to reduce dependency on imported sugar and boost local production capacity.

    Executive Secretary of the NSDC, Kamar Bakrin, highlighted that the continental sugar market in Africa is nearing $7 billion, presenting a massive export opportunity for Nigeria. He emphasized that the industry requires “sustained, large-scale financing” rather than short-term loans to achieve the goals of the Nigerian Sugar Master Plan. The collaboration is expected to create thousands of jobs and stimulate growth in the agricultural and manufacturing sectors.

    Validating the report, ThisDay noted that “this partnership is a cornerstone of the FG’s industrialization drive,” while Daily Trust quoted a NEXIM official saying, “We are ready to provide the financial buffers needed to make Nigeria a sugar-exporting hub.”

    Echotitbits take: If successful, this could be a game-changer for Nigeria’s balance of trade. The sugar industry has long been under-capitalized despite the existence of a Master Plan. The focus on the EPCF model suggests a more structured approach to infrastructure development in the sector.

    Source: The Cable – https://www.thecable.ng/sugar-council-nexim-partner-on-long-term-financing-to-curb-import-dependence/, February 12, 2026

    Photo credit: The Cable

  • Nigeria’s Crude Oil Exports to the U.S. and India Show Significant Growth

    Nigeria’s Crude Oil Exports to the U.S. and India Show Significant Growth

    Tribune reports that Nigeria’s share of crude oil exports to the United States and India has risen, with recent surveys putting Nigeria’s share at 3.3% in those markets as other suppliers’ shares declined.

    The growth is attributed to pricing competitiveness for Nigerian sweet crude and geopolitical shifts affecting global supply chains.

    The Guardian and ThisDay also referenced the trend, including demand diversification dynamics and Nigeria’s positioning for Asian refinery demand.

    Echotitbits take: Higher export share is only a win if Nigeria can sustain volumes and reduce leakages. Oil theft, high operating costs, and downtime can erase headline gains. The strategic upside is using export momentum to stabilize FX inflows while domestic refining ramps up—if feedstock supply becomes more reliable.

    Source: The Punch –  https://punchng.com/nigeria-exports-2-57bn-crude-to-us-highest-in-africa/  2026-01-30

    Photo Credit: The Punch

  • US tariff shock: Nigeria’s export earnings take a hit as trade gap risks widen

    US tariff shock: Nigeria’s export earnings take a hit as trade gap risks widen

    Photo credit: The Punch

    2025-12-22 09:00:00

    Figures cited by *The Punch* show Nigeria’s exports to the United States have taken a major hit in the wake of higher US tariffs, with the report estimating a roughly ₦1tn-scale export loss and a sharper trade imbalance.

    The data-driven argument is that once tariffs rise, marginal cargoes—especially non-oil shipments—lose competitiveness quickly, while buyers switch to alternative suppliers.

    Economists warn that tariff pressure can ripple beyond customs: export earnings affect FX inflows, port activity, manufacturing orders, and jobs tied to the export chain.

    The story also revives an old weakness—Nigeria’s narrow export basket—where shocks to market access translate fast into national revenue and FX volatility.

    BusinessDay reported that “Nigerian exports to the United States will now attract a 15 percent tariff,” while Nigeria Info FM similarly reported exports “will now face a 15% tariff” following an executive order—supporting the tariff-change backbone of the Punch analysis.

    **Echotitbits take:** The policy response can’t be vibes: Nigeria must diversify export destinations, improve standards compliance, and negotiate carve-outs where possible. Watch for whether Abuja pursues targeted trade diplomacy—or quietly absorbs the loss and shifts focus to other markets.

    Source: The Punch — December 22, 2025 (https://punchng.com/nigeria-suffers-nearly-n1tn-export-loss-after-trump-tariff/)