Nigeria's Trade Surplus Declines by 35% to $1.39 Billion in November

Nigeria's monthly trade surplus dropped by 35% to $1.39 billion in November, reflecting weaker export earnings and a modest rise in import bills. The decline was attributed to lower crude oil export volumes, fluctuating global oil prices, and increased demand for imported manufactured goods.

Despite maintaining a positive trade balance with total exports outpacing imports, concerns arise over sustaining external earnings and foreign exchange liquidity. Economists warn of heightened pressure on Nigeria's balance of payments and urge policy measures to stabilize the currency amidst persistent trade surplus declines.