Nigeria’s trade surplus in Q2 jumped by 8.36% to $6.56bn mainly due to a greater fall in imports than exports. However, the fall in international trade flows was further compounded by a reduction in investment flows during the same period, 12.53% fall in capital importation. The picture in Q3 is much better than Q2. Oil exports are up and imports are increasing.
Natural honey is becoming widely consumed by the Nigerian elite mainly for health reasons. However, Nigeria only produces a meagre 2% of total output. The domestic demand gap is 360,000tonnes. The bridging of this gap presents a massive investment opportunity for indigenous investors.
The attached document contains a snapshot of the global and domestic developments in the commodities market.
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