Top 10 most imported products in Nigeria in Q2 2024

This marked a 10.71% decrease from the N13.97 trillion recorded in Q1 2024 but still showed a 97.93% increase from the N6.30 trillion recorded in Q2 2023.

Despite this decline, Nigeria’s key import partners, including China, Belgium, India, and the United States, continued to supply a range of products, with motor spirit, gas oil, durum wheat, and cane sugar among the most traded commodities.

Based on the latest data from the National Bureau of Statistics (NBS), here are the top 10 most imported products in Nigeria:

Although it was not among the list of top products imported in the previous quarter, it is among the top 10 for Q2 2024.

This category includes devices used in telecommunications, broadcasting, and data transmission, such as routers, switches, and network systems.

Medicaments refer to pharmaceutical products that are not otherwise classified, including over-the-counter drugs and specialized treatments.

These imports include herbicides and other chemicals used in agriculture to control weeds and improve crop yields.

Used vehicles, particularly those with large diesel engines, are a significant import for Nigeria. Nigeria’s imports of these vehicles surged, rising from N93.91 billion in Q1 2023 to N130.84 billion in Q2 2024, an increase of 39.27%.

Cane sugar is a key ingredient in Nigeria’s food and beverage industry. Imports of raw cane sugar, meant for refining, dropped from N235.85 billion in Q1 2023 to N188.76 billion in Q2 2024, marking a 19.78% decrease.

Nigeria’s imports of butanes increased from N168.75 billion in Q1 2023 to N294.30 billion in Q2 2024, marking a 72.93% increase.

Butane, which accounted for 2.36% of Nigeria’s imports, is commonly used in heating, cooking, and as fuel for vehicles.

The rise in butane imports could suggest higher energy demand from households and industries or a shift from traditional energy sources towards more efficient and cleaner fuels.

Nigeria’s imports of durum wheat, essential for the production of flour, bread and pasta, saw a notable reduction.

Gas oil, commonly referred to as diesel, is crucial for transportation and powering industrial machinery.

Ordinary motor spirit, or petrol, is Nigeria’s most imported product. The value of imports increased from N2.63 trillion in Q1 2023 to N3.22 trillion in Q2 2024, representing a 22.34% increase.

Ordinary motor spirit, or petrol, is Nigeria’s most imported product. The value of imports increased from N2.63 trillion in Q1 2023 to N3.22 trillion in Q2 2024, representing a 22.34% increase.