Nigeria’s economy is showing significant signs of expansion, as evidenced by the latest trade figures. Nollywood actress and Special Assistant to the House of Representatives Speaker, Eniola Badmus, recently highlighted this development on her Instagram story.
Badmus shared that for the year-to-date 2024, Nigeria’s imports have decreased to N24.44 trillion, while exports have surged to N38.59 trillion. This shift has resulted in an unprecedented trade surplus of over N14 trillion in just eight months, a milestone never before achieved in the nation’s history.
“Our imports are reducing, and our exports are increasing. That is a sign that our economy is expanding,” Badmus stated. “This gives us an unprecedented trade surplus of over N14 trillion in just eight months. It has never happened in Nigeria. Never. This is a refreshing shift from consumption to production.”