Nigeria spends N146 billion to import motorcycles in Q1’25

According to the National Bureau of Statistics (NBS), Nigeria’s spending on foreign trade in goods saw a significant increase in the first quarter of 2025 (Q1’25). The data, contained in the Foreign Trade in Goods Statistics report, reveals that Nigeria spent ₦145.4 billion during this period.

This figure marks a ₦28 billion increase, or 24.4% year-on-year (YoY) growth, when compared to the ₦117.4 billionrecorded in the corresponding quarter of the previous year (Q1’24).

The rise in foreign trade expenditure suggests either an increase in the volume of imports, a rise in global prices of imported goods, or a combination of both. It may also reflect changes in government trade policies, exchange rate adjustments, or shifts in domestic demand for foreign goods.

More detailed insights into the composition of the goods traded, the major countries involved, and sector-specific data would typically be provided in the full NBS report.