The latest data from the National Bureau of Statistics shows that the the value of manufactured goods imported between January and June 2025, stood at N15.39 trillion, while exports during the same period amounted to just N1.09 trillion.
This left a deficit of more than N14.3 trillion in the period under review..
According to the report, although exports rebounded in the second quarter, rising to N803.81billion—up 173 percent from the first quarter and 67.17 percent year-on-year—industry players warned that the growth is insufficient to offset the flood of imports.
Reacting, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi, explained that the deficit is not only a result of consumer choices but also of government procurement patterns.
“This also has to do with heavy purchases for government contracts and infrastructure projects. Domestic production is still low, and our inability to compete has continued to constrain exports,” he said.
