Nigeria’s imports dropped to ₦15.43 trillion in Q1 2025, a 7.02% decline from Q4 2024, driven by foreign exchange constraints, according to the National Bureau of Statistics. Despite this, demand for foreign goods remains strong, with China as the top import partner.
The NCS’s duty exemptions on food imports, have lowered prices by 12–18%, benefiting consumers but challenging importers managing clearing goods and cargos.
Importers face higher costs due to naira volatility, making negotiating duties with the Nigerian customs within NCS benchmarks vital.
The E-Customs Modernisation Project promises to ease these pressures by digitizing payments, but compliance remains key when sorting and clearing customs side of the goods and cargos.
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