Despite the ongoing Ukraine war, Nigeria’s imports from Russia rose by 143% in the second quarter of 2022, OduNews reports.
The total imports in increased from N8.98 billion in Q1 2022 to N21.84 billion in Q2 2022.
In Q1 2022, Nigeria imported N6.27bn herrings and N2.77bn blue whiting from Russia, while by Q2 2022, the country imported N13.39bn blue whitings, N7.21bn herrings, and N1.25bn malt.
This increase is against the prediction that Nigeria’s imports from Russia might be at risk with the ongoing.
Russia still remains a topmost supplier of fish, particularly herrings and blue whiting to Nigeria.
While Nigeria still imports blue whiting and herrings from Russia, Nigeria is yet to import durum wheat and mackerel from the country, unlike last year.
Additionally, while Nigeria has been importing from Russia, import from Ukraine seems to be significantly affected as the NBS report has no record of any import from Ukraine.
Speaking on the possible reason for the increase in imports from Russia, a development economist, Aliyu Ilias, explained that Nigeria has to increase its imports from Russia, which has been a major trading partner.
He noted that Nigeria needs the imports to manage the possibility of a food crisis and restrain worsened food inflation.
He said, “Russia has been our old ally for long… If we don’t import these things, inflation may worsen in the country than it is.”
He also noted that since the war is majorly on Ukrainian soil, which explains the reason there was no import from Ukraine, imports from Russia are not significantly affected by the war.
