Nigeria: With COVID-19, Nigeria's Balance of Trade Dwindles

[This Day] For two consecutive quarters, Nigeria's trade balance has been in the deficit. The largest economy in Africa recorded a trade deficit to the tune of about N139billion in first quarter of 2020 with imports component of trade at about N4.22trillion while export stood at about N4.08trillion. The National Bureau of Statistics has attributed the dismal performance to the negative impact of the COVID-19 pandemic on the nation's economy.