Nigeria’s import bill records a rapid increase

Central Bank of Nigeria and the National Bureau of Statistics data says Nigeria’s import bill rose from N8.73tn to of N20.84tn Between 2016 and 2021.
This implies that within the five-year period, imports into the country rose by N12.11tn or 129.10 per cent.
The CBN data shows that the nation’s imports have been rapidly increasing since 1980.