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Nigeria’s trade surplus hits N5.81tn in Q3– NBS

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The National Bureau of Statistics (NBS) has revealed that Nigeria has recorded a trade surplus of N5.81 trillion in the third quarter (Q3) of 2024, which reflects a remarkable rise in export earnings for the country.

The NBS data released on Friday, however, showed that the surplus recorded in Q3 2024 is lower than the N6.95tn trade surplus recorded in Q3 of 2023.

The NBS report on Nigeria’s foreign trade statistics noted that merchandise trade for the Q3 this year was a total value of N35.16tn, marking an 81.35 per cent increase compared to the same period in 2023 and a 13.26 per cent rise from the previous quarter.

“Total exports for the quarter surged by 98.00 per cent to N20.49tn, compared to N10.35tn in Q3 2023,” the report said.

“This marks a 16.76 per cent increase from N17.55tn in the preceding quarter, Q2 2024.

“Total exports in Q3 2024 were valued at N20.49tn, reflecting a 98.00 per cent rise compared to N10.35tn in the corresponding quarter of 2023 and a 16.76 per cent increase compared to N17.55tn in Q2 2024.

“The significant boost in exports was primarily driven by Nigeria’s crude oil and natural gas exports, which remain key contributors to the country’s foreign exchange earnings.”

On oil export, the NBS data report stated that crude oil exports alone amounted to N13.41tn, a 57.06 per cent increase from N8.54tn in Q3 2023.

“Exports of other oil products, including liquefied natural gas and petroleum gases, also saw a massive 303.93 per cent rise, totalling N4.58tn,” it stated.

“In addition to oil exports, agricultural exports saw an extraordinary increase of 301.87 per cent, reaching N884.07bn, compared to N219.99bn in Q3 2023.

“This growth was despite a slight decline of 9.20 per cent from the previous quarter. Exports of solid minerals and manufactured goods also performed well, rising by 86.58 per cent and 419.93 per cent respectively.”

The report added that Spain was Nigeria’s largest export partner in Q3 2024, followed by the United States, France, the Netherlands, and Italy.

“These countries benefitted from Nigeria’s crude oil, LNG, and other petroleum exports. On the imports side, Nigeria’s total import bill for Q3 2024 stood at N14.67tn, an increase of 62.30 per cent from N9.04tn recorded in the same period in 2023, compared to the previous quarter, imports rose by 8.71 per cent.

“The value of total imports stood at N14.67tn in the third quarter of 2024, representing a rise of 62.30 per cent from the value recorded in the corresponding quarter of 2023 (N9.04tn) and increased by 8.71 per cent compared with the value recorded in Q2, 2024 (N13.5tn),” it added.

Metro

Zambia: FOX report highlights persistent media harassment, calls for reforms

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A new Freedom of Expression (FOX) report by the Media Institute for Southern Africa (MISA) Zambia, has raised concerns over what it describes as the continued harassment of media professionals in the country despite collective efforts to safeguard freedom of expression.

The FOX Report serves as a call to action for all stakeholders to create a safer and more enabling environment for the media to operate without fear or intimidation.

Chairperson of the MISA-Zambia Board, Lorraine Mwanza, who raised the concerns while launching the report on Tuesday at the Pamodzi Hotel in Lusaka, highlighted that journalists and media practitioners in the country still faced intimidation, censorship, and violence for fulfilling their role of informing the public.

“The harassment of media professionals is a stark reminder of the threats posed to democratic values and the fundamental rights to seek, receive, and impart information without fear or hindrance,” Mwanza said.

She expressed solidarity with those who are targets of attack, and reaffirmed MISA’s commitment to defending journalists’ rights and protecting the integrity of the profession.

Mwanza further called on the government to address barriers preventing journalists from accessing public officials, emphasizing that public officials were custodians of critical information necessary for informed decision-making.

“When citizens have access to government data, they can better understand policies, monitor public spending, and advocate for change in their communities,” Mwanza noted.

She also appealed for the review and repeal of laws that undermine democracy, stressing the importance of enacting legislation that guarantees media freedom, freedom of expression, and digital rights, and commended the government for responding to calls from civil society organizations to withdraw the controversial Cyber Bills from Parliament.

Ministry of Information and Media Permanent Secretary, Thabo Kawana, in a speech read by Ministry Director Mordern Mayembe, reaffirmed government’s commitment to upholding media freedom and freedom of expression in Zambia.

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Metro

Nigeria: 614,937 killed, 2.2m abducted in 1 year— Report

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A new report released on Tuesday by the National Bureau of Statistics (NBS) has revealed that over 614,937 Nigerians were killed and 2,235,954 others kidnapped across the country in one year between May 2023 and April 2024.

The NBS report, titled, “The Crime Experienced and Security Perception Survey (CESPS) 2024”, says based on the surveys conducted between May 2023 and April 2024, the 2.2 million Nigerians who were kidnapped across the country paid a whopping N2.2 trillion as ransom, with an average amount of N2.7 million per incident.

The report also disclosed that murder rate was highest in rural areas with 335,827 incidents and 279,110 in urban areas.

A zone-by-zone analysis of the report showed that the North-West had the highest murder cases of 206,030, followed by the North-East which stood at 188,992, while the least was recorded in the South-West at 15,693.

The report also revealed about seven in 10 households reported murder cases to the police nationwide with 33 per cent of households responding that the killer was an unknown person, and 23.4 per cent confirmed that the murderer was a member of the household; while 1.0 per cent reported that the murderer was either a spouse or a lover.

The report said 1,668,104 persons were kidnapped in rural areas and 567,850 in urban areas with the North-West having the highest cases of kidnapping with 1,420,307 abducted, followed by the North-Central with 317,837 and the South-East at 110,432.

“Of the estimated amount of N2.2 trillion payments to free victims, the North-West reported the highest ransom paid with N1.2 trillion; while the South-East was the least with N85.4 billion.

“Disaggregated by zones, the North-Central reported the highest proportion of payment of ransom at 83.4 per cent, followed by North-East at 78.6 per cent.

“Households in urban areas paid an average of N3.7 million compared to N2.3 million in rural areas,” the report stated.

It added that about 91 per cent of kidnapping incidents were done for ransom in the form of money, goods or other benefits.

“While 2.4 per cent of cases were attributed to political, criminal, or terrorist objectives; 2.1 per cent were linked to personal or family disputes. Custody disputes accounted for 0.5 per cent of cases,” the report said.

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