The National Bureau of Statistics (NBS) reported a significant decrease in Nigeria's import expenditure for the first quarter of 2026, which fell to N13.62 trillion from N16.64 trillion in the same period of the previous year. This decline of N3.03 trillion, representing an 18.2 percent reduction, reflects a decrease in import demand attributed to foreign exchange constraints, shifts in government policy, and evolving consumer habits. The data underscores the ongoing changes in Nigeria's external trade dynamics and the broader efforts to rebalance the economy.
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