Nigeria’s Import From Russia Slumps Amid War With Ukraine

• Nigeria has reduced its import from Russia by 92 per cent since this year amid the war in Ukraine
• The country’s imports slumped following predictions that trade between the two countries would be affected by the war
• Nigeria imports mostly wheat and fish from Russia but has added other items to the list this year

Nigeria’s import from Russia has slumped significantly and is at their lowest this year.

According to the foreign trade report by the National Bureau of Statistics for Q3 released last week, only N1.7 trillion worth of goods were imported from Russia.

Nigeria imports more of fishes, wheats

The report showed a decline of 92.17 per cent from N21.84 billion imports recorded in Q2 of this year.

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Punch report said that the West African country’s main import from the Eastern European nation over the years has been wheat but has imported various types of fish from Russia this year.

Unlike previous years, Nigeria has not imported durum wheat from the country.

In the first quarter of this year, Nigeria imported N6.27 billion herrings and N2.77 billion blue whiting from Russia, while in the second quarter of 2022, the country imported 13,39 billion whiting, N7.21 billion herrings and N1.25 billion malt.

Items imported by Nigeria from Russia

By the third quarter, Nigeria imported N1.19 billion and horse mackerel and N517.90 million of Sulphur.

In September 2022, Nigeria increased its import from the Putin-led country, amid Russia's unprovoked attack on Ukraine.

The initial increase was against amid forecast that Nigeria’s import from Russia might be jeopardised due to the war.

This comes as major countries around the world are rallying behind Ukraine against Russian aggression with Russian losing its initial advantage over resilient Ukrainian troops.

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Apple, others stfollow

Legit.ng reported that as pressure keeps mounting on Kremlin to stop the war in Ukraine, many companies are deserting the Russian markets in droves.

The latest is tech giant, Apple which has stopped selling all its products in Russia. The firm announced the decision on Tuesday, March 1, 2022, after Russia began its invasion in Ukraine, CNBC reports.

Apple does not have a physical presence in Russia but sells its products online through storefronts. All storefronts selling Apple products in Russia are listed as unavailable.

Source: Legit.ng