China emerges Nigeria’s leading source of imports with US$1.6 billion

It emerged at the weekend that China is now Nigeria’s leading source of imported goods with an import value of US$1.6 billion (N478 billion) equivalent to 20% of Nigeria’s total imports. This is, according to the merchandise trade data released by the Nigerian Bureau of Statistics (NBS) in its latest foreign trade statistics for the third quarter (Q3) of 2016. According to the NBS data, Belgium emerged the second largest source of imports in the review period, with an import value of US$1.1 billion (N331billion).