Reply to thread

Message

[QUOTE="Munyaradzi Mafaro, post: 76028, member: 636"]
Nigeria pulled in 77.4 trillion naira from exports last year compared to 36 trillion the year before, even though the dollar numbers dipped a bit to 57.9 billion from 60.65 billion. The naira-denominated spike came partly from currency depreciation, but cocoa sales absolutely went off, jumping from 759 million bucks to 2.6 billion. Companies like Unilever Nigeria, Cadbury Nigeria, and Guinness Nigeria more than doubled their combined export sales to 22.8 billion naira.

Oil still brings in nearly 90 percent of total revenue, pulling in 50.3 billion dollars. Non-oil stuff like ores and residues is gaining ground, though, and the government's trade policy through 2027 is trying to fix quality issues that get Nigerian products rejected by the EU.

The whole thing shows the country is slowly diversifying beyond crude, and analysts reckon better processing tech and certification could turn those inflated naira gains into stronger dollar earnings down the line.
[/QUOTE]

Name