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Spain, US Lead as Nigeria’s Top Export Destinations in Q2 2024

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Nigeria’s robust export performance, particularly in crude oil, propelled the nation’s trade surplus to N6.95 trillion in the second quarter of 2024, marking a 6.60% increase from the previous quarter, according to the National Bureau of Statistics (NBS). Despite a slight dip in overall merchandise trade, the export sector continued to drive economic growth.

The total value of Nigeria’s goods trade in Q2 2024 was N31.89 trillion, reflecting a significant 150.39% rise compared to the same period in 2023, although it represented a 3.76% decline from Q1 2024. Exports, which constituted 60.89% of the total trade at N19.42 trillion, played a pivotal role. This export value marked a 1.31% increase from Q1 2024 and a substantial 201.76% rise from Q2 2023. Crude oil exports dominated, accounting for N14.56 trillion or 74.98% of total exports, while non-crude oil exports contributed N4.86 trillion.

Spain emerged as Nigeria’s largest export destination in Q2 2024, receiving N2.01 trillion worth of goods, which accounted for 10.34% of the country’s total exports. The United States followed closely, importing N1.86 trillion worth of Nigerian products, or 9.56% of total exports. Other significant export partners included France, India, and the Netherlands, with export values of N1.79 trillion, N1.65 trillion, and N1.38 trillion, respectively.

On the import side, Nigeria’s total imports decreased to N12.47 trillion in Q2 2024, a 10.71% drop from the previous quarter, yet a 97.93% increase compared to Q2 2023. China remained Nigeria’s top import supplier, accounting for N3.03 trillion or 24.29% of total imports. The United States, Belgium, India, and the Netherlands also featured prominently as major import partners.

Maritime transport continued to dominate Nigeria’s international trade, handling 99.14% of exports and 94.94% of imports in Q2 2024, underscoring the critical role of the country’s seaports in facilitating trade. In contrast, air and road transport played a comparatively minor role.

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Jos DisCo to Launch Feeders Management System and Bilateral Arrangements

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Jos Electricity Distribution Plc (JED) has announced the upcoming launch of its Feeders Management System and Bilateral Arrangements starting on November 1, 2024. This initiative aims to enhance the efficiency and effectiveness of energy distribution to customers.

In a press release signed by Dr. Friday Adakole Elijah, the Head of Corporate Communications, JED stated that the new system is designed to provide customers with consistent and reliable electricity based on their service bands, ultimately enhancing customer satisfaction.

As part of the scheme, 76 feeders classified under Band A have been selected, with a commitment to ensure uninterrupted power supply in accordance with the Band A schedule. Customers on these feeders will be required to pay for 100% of their consumed energy.

To support the program’s success, JED has established a seven-member team for each feeder, consisting of a network engineer, a marketer, and other personnel dedicated to ensuring seamless energy delivery and managing post-paid billing. This team will also focus on promoting collaboration to achieve customer satisfaction.

In line with its commitment to providing 100% of the promised energy supply, JED expects customers to fulfill their obligations by paying their energy bills in full each month, as partial payments will no longer be accepted. Only customers who have settled their bills will continue to receive electricity, and defaulters will be disconnected from the supply.

Customers are encouraged to embrace the new system to enjoy improved services and reliable electricity.

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Kebbi Government Disburses N629m Compensation for Tsamiya Inland Dry Port and Argungu Old Bypass Road Dualization

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The Kebbi State government has allocated a total of N629.455 million in compensation to individuals whose farmlands and properties were acquired for the construction of the Tsamiya Inland Dry Port in Shaguna, Bagudo Local Government Area, as well as for the dualization of the Argungu Old Bypass Road.

Alhaji Abubakar Ahmed, the Permanent Secretary of the Ministry of Lands and Housing, confirmed the disbursement in Birnin Kebbi. He stated that ₦289.542 million was paid to compensate for over 200 hectares of land and economic trees acquired for the Tsamiya Inland Dry Port project, located in a border town between Nigeria and the Republic of Benin. This payment was made on Wednesday and was witnessed by various officials, including the Commissioner for Lands and Housing, Hon. Muhammad Dangi Juli, and the Bagudo Local Government Chairman.

Ahmed expressed satisfaction with the successful execution of the compensation process, attributing its effectiveness to the cooperation from the local community. He also thanked Governor Nasir Idris for ensuring the availability of the necessary funds.

The Permanent Secretary emphasized the importance of the Tsamiya Inland Dry Port for enhancing trade and commerce between Kebbi State and the Republic of Benin, which is expected to facilitate easier movement of goods and boost the local economy.

Additionally, the government disbursed ₦339.913 million for the compensation of structures affected by the 6.5 km dualization of the Argungu Old Bypass Road, a project that was recently flagged off by Governor Nasir Idris. This compensation was also distributed in Argungu in the presence of relevant officials and community leaders.

Ahmed praised the state government for the timely release of funds, stressing that it would facilitate the prompt completion of these crucial projects.

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Borno: Governor Zulum Praises NCAA DG Najomo for Enhancing Aviation Safety

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Borno State Governor Prof. Babagana Zulum has commended the safety standards in Nigeria’s aviation sector, attributing this achievement to the leadership of Captain Chris Najomo, the Acting Director General of the Nigerian Civil Aviation Authority (NCAA).

During a courtesy visit to the NCAA in Abuja, Zulum acknowledged the significant improvements in the aviation sector since Najomo took office, highlighting enhanced compliance with flight regulations and safety measures. He noted that Nigeria continues to attract investments in aviation due to the confidence investors have in the regulatory authority.

Zulum stated, “No one is and should be surprised at what is happening in the sector. On a daily basis, we see developments in different aspects of the industry. It all has to do with the leadership of the civil aviation authority. When you put the right person in position, this is what you get. Here you find a round peg in a round hole, so you do not expect anything different than the success being recorded. I commend the DGCA and his team and urge you to keep the flag flying.”

In response, Capt. Najomo emphasized the NCAA’s goal to ensure that Nigeria’s aviation industry competes on a global scale, saying, “Ease of doing business” is his primary focus, complemented by “Ease of doing business without compromising safety.”

Najomo also expressed sympathy for the recent flooding in Borno State, commending Governor Zulum for his development efforts and flood management. The two leaders discussed potential collaborations that would benefit both Borno and the NCAA.

In a related development, the International Air Transport Association (IATA), led by Mr. Kamil Alawadhi, Vice President for Africa and the Middle East, visited the NCAA to discuss partnership opportunities for workforce training and retraining. Key priorities included meeting mandatory requirements for the Civil Aviation Authority, cost recovery, and providing IATA and International Civil Aviation Organization (ICAO) training for staff.

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