Nigeria, number one importer in Africa, 25th in the world

Nigeria is the number one importer of commercial services in Africa in 2020, data released by World Trade Organisation showed on Friday.

The Geneva-based international trade organisation ranked Nigeria 25th commercial importer in the world but the first commercial importer in Africa followed by Egypt which was ranked 28th in the world.

While Egypt and Morocco made the list of world exporters led by the United States, Nigeria was conspicuously absent in the global commercial exporters’ list.

The US also ranked first in the commercial importers’ list followed by China, United Kingdom and Japan; while US, UK, China and India topped the exporters’ list.

WTO noted that preliminary estimates were based on quarterly statistics.

“Figures for a number of countries and territories have been estimated by the Secretariat,” it said.

“Data for 2020 are not yet available for the United Arab Emirates. In 2019, commercial services exports were valued at US$72 billion and imports at US$73 billion.”

Nigeria’s former Finance Minister, Dr Ngozi Okonjo-Iweala, is the first African and first female director-general in the 26-year history of the WTO.