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Manufacturing Trade Deficit Hits N9.4tn In Nine Months

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Nigeria’s trade balance of manufactured goods hit a deficit of N9.4tn in the first nine months of 2023, findings by The PUNCH reveal.

This is according to analysis of various Foreign Trade Statistics reports published by the National Bureau of Statistics.

According to the data, in the first quarter of 2023, Nigeria’s imports of manufactured goods stood at N2.5tn. In the second quarter, it increased to N3.2tn and N4.1tn in the third quarter.

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Cumulatively, manufactured goods imports in the first nine months of 2023 stood at N9.9tn.

READ ALSO: Lagos, Ogun, Kano, Bayelsa Top 2023 Internet Growth – NBS

On the other hand, exports recorded in this category were N131bn, N212bn and N200bn in the first, second and third quarters, respectively, totalling N543bn.

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This means that the difference between imports and exports during the period in review stood at a negative, as imports exceeded exports to the tune of N9.37tn.

Major items imported during the period included ‘Used Vehicles, with diesel or semi-diesel engines from the United States and United Arab Emirates, ‘Machines for reception, conversion and transmission … of voice, images or data’ imported from China and ‘Other medicaments not elsewhere specified’ from India.

The major exports in this sector were ‘Unwrought aluminium alloys’ exported to Japan, ‘Oilcake and other solid residues, resulting from the extraction of soyabean oil,’ and Cathodes and sections of cathodes’ exported to Japan.

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READ ALSO: Many Injured As Explosion rocks Filling Station In Osun

The data revealed that manufactured goods exports by region were mainly exported to Asia, Africa and Europe.

According to a report by the Manufacturers Association of Nigeria, the highest non-oil export volume done by Nigerian businesses in recent times was $9.13bn and that was just before COVID-19.

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The report said Nigeria had not done well in global export trade as it ranked 52nd among nations.

The report, titled ‘Emerging Issues Disrupting Nigeria’s Non-Oil Export And Innovative Solutions,’ cited production, port administration and operating environment as some of the primary impediments to non-oil exports in the country.

READ ALSO: Ondo Amotekun Arrests Man For Kidnapping Eight-year-old

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Also, a recent World Bank ‘Nigeria Development Update noted that non-oil revenues also need to be increased even with oil benefits being secured.

In an interview with Sunday PUNCH, the President of the Manufacturers Association of Nigeria, Francis Meshioye, said exporting manufacturers were usually unable to compete with their international counterparts due to factors bordering on high production costs.

According to him, Nigerian manufacturers are saddled with high production costs, which ultimately push up the prices of manufactured goods.

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Meshioye said, “We tell our members to export more, but all these things are based on competitive advantages. If you want to export a product, it is fine, but at what cost are you going to export it? What will be your price? If the cost is astronomically high, it will be difficult to export. It is a circle.

“The export base should be good enough to support the floating exchange rate, but we need to have a good economic base to do that.”

 

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Edo Seeks FG’s Intervention On Land Dispute With Delta

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The Edo State Government has appealed to the Federal Government to, as a matter of urgency, intercede on the land dispute between the state and its neighboring Delta.

Deputy governor of the state, Hon. Dennis Idahosa made the appeal when he led a delegation comprising officials of the state government and members of the Edo State Boundary Committee on a fact finding mission to disputed communities.

A statement by his Chief Press Secretary, Mr Friday Aghedo, said the fact finding mission was part of an effort to ensure peace,

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Idahosa used the avenue to appeal to President Bola Tinubu to use his good office to ensure justice, equity, and fairness prevailed in the areas in dispute.

READ ALSO:Edo Dep. Gov. Idahosa Inducted, Bestowed With Rotary Premium Award

“I passionately call on the President to use all necessary demarcation agencies to resolve these lingering issues,” he appealed.

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While suing for peace from the affected communities, Idahosa noted that the state government was determined to protect the territorial dignity of Edo State and that of the people of Orhionmwon.

He pointed out that the Jameson River is a natural demarcation landmark to the disputed Ugbakele boundary Community.

While calling on the state boundary committee to be diligent in their investigation, he stressed that the outcome of the investigation will guide the recommendations of the committee to the governor.

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READ ALSO:Drug Barons Abandon Sienna Buses With 1,455kg Of Cannabis In Edo, Flee

We decided to ask questions and the history of this area. We found out that this Jameson River is the natural boundary between Edo and Delta States.

‘You can see the previous structures of the AT&P company. This land is clearly for Edo State.

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“We thank the community people and settlers. We plead they continue to maintain the peace pending the outcome of the National Boundary Commission,” he pleaded.

Earlier, Idahosa and his team interfaced with stakeholders and community leaders of Oben, Ikobi, Iguelaba, and Obozogbe-Nugu communities to verify their claims and grievances.

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At the town hall meeting, the communities complained of non-regonition by oil companies operating in the area.

They further decried ceeding of their communal land to private individuals by the immediate past administration of the state without compensation.

The previous government has done injustice to the Edo people by allocating land to investors without having interactive sessions with us,” they noted.

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Police Arrest, Charge Content Creator To Court In Edo

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The Edo State Police Command says it has arrested a 24-year-old content creator identified as Osarobo Omoyemen, for allegedly sharing a content on Tiktok capable of “inciting hostility against the Police and triggering unnecessary tension within the state.”

In a statement made available to newsmen in Benin on Saturday, the command’s Police Public Relations Officer, Moses Yamu, said the suspect, popularly known as ‘Madam Oil Rice,’ recently circulated a “false claim on social media alleging that she was kidnapped along Upper Sakponba Road in Benin City and later rescued by Police operatives who purportedly detained her at Akpata Police Station and collected the sum of Ten Thousand Naira as bail.”

READ ALSO:Drug Barons Abandon Sienna Buses With 1,455kg Of Cannabis In Edo, Flee

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Yamu said worried by the allegation, the command immediately commenced investigation, adding that it was revealed that the entire story was completely fabricated and deliberate.

According to the police’s imagemaker, Madam Oil Rice fabricated the story just to attract followers and viewership, stressing that she had confessed to having fabricated the story.

During interrogation, the 24year old female suspect, Osarobo Omoyemen confessed that she staged the incident solely to generate online content and attract followers to her TikTok page.

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“It was also discovered that she deleted an earlier video in which an accomplice in the background was appealing to viewers to follow her page, clearly exposing the motive behind the false alarm.

READ ALSO:Edo Market Women Protest Planned Eviction

“The content was not only misleading but capable of inciting hostility against the Police and triggering unnecessary tension within the state.”

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Yamu, while noting that the “suspect has been identified, arrested, and charged to court on Thursday 20th November, 2025 for prosecution, said “efforts are ongoing to arrest her accomplices to ensure they face the full weight of the law.”

The PPRO, who said Madam Oil Rice’s arrest and charge to court was aimed at serving as a “deterrent to others who may attempt to misuse social media to create panic or disrupt public peace,” said “the Edo State Police Command strongly warns against the creation and circulation of fake news capable of disturbing the peace and security of the state.”

He urged members of the public “to verify information before sharing and to refrain from acts that may mislead the public or undermine the efforts of security agencies.”

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FULL LIST: FG Shuts 41 Unity Schools Over Insecurity

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The Federal Government on Friday ordered the temporary closure of 41 unity schools over the rising cases of abduction across the country.

The decision was announced in a circular issued by the Director of Senior Secondary Education at the Federal Ministry of Education, Binta Abdulkadir.

“Sequel to the recent security challenges in some parts of the country and the need to prevent any security breaches, the Honourable Minister of Education has approved the immediate closure of the listed Federal Unity Colleges.

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“Principals of the affected colleges are to ensure strict compliance. Please accept the warm regards of the Honourable Minister,” the circular read.

READ ALSO:Why FG Hasn’t Prosecuted Terrorism Financiers – Minister

The affected schools are FGGC Minjibir; FGA Suleja; FTC Ganduje; FGGC Zaria; FTC Kafancha; FGGC Bakori; FTC Dayi; FGC Daura; FGGC Tambuwal; FSC Sokoto; FTC Wurno; FGC Gusau; FGC Anka; FGGC Gwandu; FGC Birnin Yauri; FTC Zuru; FGGC Kazaure; FGC Kiyawa; FTC Hadejia; FGGC Bida; FGC New Bussa; and FTC Kuta-Shiroro.

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Others are FGC Ilorin; FGGC Omu-Aran; FTC Gwanara; FGC Ugwolawo; FGGC Kabba; FTC Ogugu; FGGC Bwari; FGC Rubochi; FGGC Abaji; FGGC Potiskum; FGC Buni Yadi; FTC Gashau; FTC Michika; FGC Ganye; FGC Azare; FTC Misau; FGGC Bajoga; FGC Billiri; and FTC Zambuk.

Recall that some students from St. Mary’s School in Papiri, Agwara Local Government Area of Niger State, were kidnapped by terrorists.

READ ALSO:Workers Kick Against FG’s Health Insurance Deductions From Salaries

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The incident comes just days after a similar attack in Maga, Kebbi State, where 25 students were kidnapped, heightening concerns over the deteriorating security situation in educational institutions across the region.

On Thursday, over 50 schools were shut down in Kwara State following attacks by bandits.

President Bola Tinubu had also cancelled his scheduled trips to South Africa and Angola to coordinate the government’s response to the worsening insecurity.

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