Nigeria's Imports Reducing, Exports Increasing, Economy Expanding

Nigeria’s Imports Reducing, Exports Increasing, Economy Expanding

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Nollywood actress Eniola Badmus has expressed her optimism about Nigeria’s economic growth, citing a significant shift from consumption to production.

Taking to her Instagram story section on Saturday, she highlighted the contrast between the previous administration and the current Tinubu administration, noting a remarkable reduction in imports and a surge in exports.

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Badmus, who serves as Special Assistant to House of Representatives Speaker Tajudeen Abbas, shared impressive trade figures for 2024.

She revealed that imports decreased to N24.44 trillion, while exports skyrocketed to N38.59 trillion, resulting in an unprecedented trade surplus of over N14 trillion in just eight months.

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The actress emphasized that this remarkable achievement marks a turning point in Nigeria’s economic history, signaling a move towards production and expansion.

She wrote: “Our imports are reducing, and our exports are increasing. That is a sign that our economy is expanding. For the year-to-date 2024, our imports were N24.44 trillion, while our exports stood at N38.59 trillion. This gives us an unprecedented trade surplus of over N14 trillion in just eight months. It has never happened in Nigeria. Never. This is a refreshing shift from consumption to production.”

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