Declining export and import have crashed Nigeria’s total trade with the United Kingdom by N105bn in the first quarter of 2024 despite the higher value realised from the naira devaluation.
This is according to the recent foreign trade statistics report by the National Bureau of Statistics (NBS).
According to the report, the total trade comprising import and export between Nigeria and the UK dropped from N602.36 billion in Q1 2023 to N451.45 billion in Q1 2024.
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