Solid Minerals Worth N35.2 Billion Imported in Third Quarter

Nigeria imported solid minerals worth N35.2 billion in the third quarter of 2020, according to the latest report from the National Bureau of Statistics (NBS).

During the same quarter, Nigeria exported N5.5 billion solid mineral goods.

Part of the report read, “The total trade in solid mineral goods stood at N40.8bn in Q3, 2020, comprising an import component of N35.2bn and export component of N5.5bn.

“The major products exported under this sector were other cement exported to Niger Republic, worth N1.4bn.

“This was followed by cement clinkers exported to Cameroon, worth N1.2bn as well as lead ores and concentrate exported to China, worth N1.0bn.”

It added, “In terms of imports, plasters of calcined gypsum were mainly imported from Turkey, worth N4.0bn and Egypt (N1.9bn).

“This was followed by gypsum, imported from Spain worth N4.4bn.

“Crude salt was also imported from Brazil and Namibia worth N3.2bn and N1.9bn respectively.”

According to the report, the total value of merchandise trade during the quarter stood at N8.37 trillion. This represents an increase of 34.15 percent when compared with the second quarter of 2020 and 8.85 percent decline compared to Q3, 2019.

Year to date, total value of trade stood at N23.2 trillion.