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Newly released data by the Nigerian Bureau of Statistics , has revealed that exports of agricultural goods from Nigeria to other countries, increased by 123 per cent over the value recorded in the fourth quarter of 2023 , and also by 270 per cent when compared to the value recorded in Q1, 2023 .
On the other hand, total imports of agricultural goods in Q1, 2024 stood at ₦920bn or 7.28 per cent of total imports. This is an increase of 29.45 per cent when compared to the value recorded in Q4, 2023 and by 95 per cent when compared to the value recorded in Q1, 2023 . The value of total trade in agricultural goods in the first quarter of 2024 stood at ₦1,95bn, of which exports were valued at ₦1,035bn.On the other hand, the value of total imports stood at ₦12,643bn in the first quarter of 2024, representing an increase of 40 per cent compared with the value recorded in Q4, 2023 and a rise of 95 per cent from the value recorded in the corresponding quarter of 2023 .
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