News
Nigeria’s N993.38bn imports from Russia at risk over war
The value of Russia’s imports to Nigeria over 12 months period is estimated at N993.38bn, data from the National Bureau of Statistics have shown.
Specifically, the NBS statistics put the value of imports from Russia between the third quarter of 2020 and the corresponding period in 2021 at N993.38bn.
Russia is among Nigeria’s top 10 import trade partners between the third quarter of 2020 and the corresponding period in 2021. However, the N993.38bn trade is at risk as the Russia and Ukraine war persists.
Within the period under review, Nigeria imported four main items from Russia, namely durum wheat, herrings, blue whitings, and mackerel, according to the report.
In Q3 2020, durum wheat worth N46.56bn, mackerel worth N13.76bn, and blue whitings worth N1.57bn were imported from Russia.
During the quarter, Russia was the second leading exporter of durum wheat to Nigeria, the first for mackerel, and the third for blue whitings.
The foreign trade statistics document from the NBS further showed that the total imports from Russia were N154.21bn cumulatively, about 2.87 per cent of Nigeria’s import trade value for the period, with Russia being the seventh import trading partner for Nigeria.
Russia maintained its position as the seventh import trading partner for Nigeria in Q4 2020 with an import trade value of N162.62bn cumulatively, which was 2.74 per cent of the country’s total import trade value.
READ ALSO:
- Lari Williams’ death, colossal loss to Africa creative industry – AGN
- Confusion hits Russian troops as Google disables traffic maps in Ukraine
- Nigerian Parents Storm Russian Embassy In Abuja Over Plight Of Their Children In Ukraine
In Q4 2020, durum wheat worth N62.9bn, mackerel worth N2.27bn, and herrings worth N6.59bn were imported from Russia. Also, Nigeria imported N4.82bn vaccines for human medicine from Russia.
Russia was the top exporter of wheat to Nigeria, the second for herrings, and the third for mackerel in Q4, 2020. It was the fifth import trade partner for vaccines for human medicine.
By Q1 2021, Nigeria imported N15.8bn herrings and N37.20bn durum wheat from Russia. Russia was the top import trading partner for herrings and fourth for wheat.
Nigeria imported N27.23bn blue whitings and N4.18bn mackerel from Russia in Q2 2021. Russia was not mentioned among Nigeria’s top wheat providers for this quarter.
The foreign trade statistics document from the NBS further showed that the import from Russia was N284.36bn cumulatively, which was 4.09 per cent of the total import trade value, with Russia being the fifth import trading partner for Nigeria.
Russia dropped to the sixth import trading partner for Nigeria in Q3 2021 with an import trade value of N339.19bn cumulatively, which was 4.16 per cent of the total import trade value.
In Q3 2021, durum wheat worth N86.75bn and mackerel worth N30.69bn were imported from Russia.
Russia was the top importer of mackerel for Nigeria and second for durum wheat in this quarter.
A total of N232.41bn was spent on durum wheat imports from Russia, and N102.09bn on fishes, such as herrings, blue whitings, and mackerel.
Meanwhile, Nigeria’s import from Ukraine is also at risk as the crisis persists, the Punch has learnt.
According to the United Nations Comtrade Database on International trade in 2020, Nigeria spent $156.08m on imports from Ukraine. The database also showed that import from Russia was $1.24bn for that year.
Nigeria may be forced to shift attention to other countries for the import of commodities like cereals, mineral fuel, oil distillation products, fish, iron and steel, fertilizers, amongst others.
Experts predict inflation, others over import disruptions
Meanwhile, economic analysts and experts have said Nigerians may experience a further rise in inflation over possible disruption in the import of wheat, fish, and other commodities from Russia and Ukraine.
A professor of Economics and Public Policy at the University of Uyo, Akpan Ekpo, said if the conflict between Russia and Ukraine persists, Nigeria’s imports from the two countries may be affected.
He added that this would likely lead to inflation and more hardship for Nigerians.
He said, “If Nigeria can’t import wheat anymore or other products that we import from Russia due to sanctions, it is very likely like the prices of products made from wheat or with wheat will rise in the medium to long term. This of course will increase inflation and create more hardship for the average Nigerian.”
He stressed the need for the country to boost domestic wheat production to meet up with local consumption and export opportunities.
He said, “Definitely, the war will have negative impacts, economically. But with every crisis, there is always an opportunity.
“In this case, the upside for Nigeria is that we exploit this problem by intensifying our local wheat production so that we don’t depend on imports. If we do it rightly, we will not only be able to meet our local demands but we can boost our trade earnings by exporting wheat to countries that were dependent on Russia or Ukraine for their wheat.”
According to the President, Premium Bread-Makers of Nigeria, Emmanuel Onuorah, if the crisis persists, Nigeria may have to turn to other trade partners for the affected commodities.
He said, “Certainly. It will affect the wheat price and its availability. It will affect it because the international price of oil has spiked. You (Russia) can’t export anything because all the export channels are shut. The quantum that is coming from Russia will certainly impact wheat supply to Nigeria, but you know Nigeria does not only buy from Russia, but they also buy from Canada, they buy from the US, and from Brazil.”
Punch
News
MURIC Urges Security Agencies to Protect JAMB Candidates, Exam Centres Nationwide
MURIC Urges Security Agencies to Protect JAMB Candidates, Exam Centres Nationwide
The Muslim Rights Concern (MURIC) has called on security agencies in Nigeria to ensure maximum protection for candidates and officials participating in the forthcoming Joint Admissions and Matriculation Board (JAMB) examinations scheduled to begin on April 16, 2026.
In a press statement issued on Tuesday, April 14, 2026, the Islamic human rights organisation stressed the need for heightened security measures across all examination centres nationwide, citing growing insecurity in several parts of the country.
The statement, signed by the Executive Director of MURIC, Professor Ishaq Akintola, urged the Nigeria Police Force, the Nigerian Army, and the Nigeria Security and Civil Defence Corps (NSCDC) to collaborate effectively in safeguarding candidates and examination personnel throughout the examination period.
According to the group, the appeal became necessary due to rising security concerns in parts of northern Nigeria, where banditry, communal tensions, and violent attacks have continued to threaten public safety.
READ ALSO:
- Court Grants Bail to El-Rufai in ICPC Corruption Case
- Bauchi Governor Presents Over 114 Vehicles to Emirs, District Heads
- Bandits Kill 3, Abduct 5 in Fresh Attacks on Kogi Communities
MURIC specifically raised concerns about states such as Plateau, Borno, Katsina, Sokoto, and Kwara, warning that some of these areas remain vulnerable to attacks and mass abductions, particularly targeting young students and examination candidates.
The organisation warned that candidates travelling to and from examination centres could be at risk in volatile locations and called for “special attention” to ensure their safety before, during, and after the examinations.
It further urged security agencies to remain vigilant, noting that “eternal vigilance is the price of freedom,” and emphasised the need for proactive intelligence gathering and rapid response mechanisms to prevent any disruption of the exercise.
MURIC also highlighted the importance of securing examination venues themselves, stressing that any attack on candidates or officials would have far-reaching consequences on education and national development.
The group reiterated its commitment to advocating for peaceful coexistence and safety for all citizens, especially young Nigerians pursuing education.
The JAMB examination, conducted annually by the Joint Admissions and Matriculation Board, is a critical gateway for admission into tertiary institutions across the country, with hundreds of thousands of candidates expected to participate nationwide.
Security agencies are yet to issue a formal response to the appeal, but authorities have previously assured Nigerians of adequate protection during national examinations and other major public exercises.
MURIC Urges Security Agencies to Protect JAMB Candidates, Exam Centres Nationwide
News
Lafarge Convicted of Terrorism Financing by French Court in Landmark Case
Lafarge Convicted of Terrorism Financing by French Court in Landmark Case
A French court in Paris has found cement manufacturer Lafarge guilty of financing armed extremist groups during the Syrian civil war, in a landmark ruling that could reshape global standards on corporate responsibility in conflict zones.
The court ruled that the company’s Syrian subsidiary made payments to armed groups, including ISIS and the Nusra Front, between 2013 and 2014, in a bid to keep its cement plant in northern Syria operational during intense fighting.
The judgment also convicted eight former Lafarge employees, including senior executives, for authorising and facilitating the transactions, marking one of the most significant cases of terrorism financing in corporate operations ever handled in France.
According to the court, the payments amounted to approximately $6.5 million, allegedly used to secure safe passage for staff, maintain supply routes, and purchase materials from areas controlled by armed factions.
Presiding judge Isabelle Prévost-Desprez said the arrangement effectively created a “commercial relationship with armed groups,” stressing that economic survival was prioritised over legal and ethical obligations in a war environment.
READ ALSO:
- Court Grants Bail to El-Rufai in ICPC Corruption Case
- Bauchi Governor Presents Over 114 Vehicles to Emirs, District Heads
- Bandits Kill 3, Abduct 5 in Fresh Attacks on Kogi Communities
The case focused on Lafarge’s Jalabiya cement plant in northern Syria, acquired in 2008 and operating shortly before the outbreak of the Syrian civil war. Investigators told the court that funds were also used to ensure the movement of employees through territories controlled by militant groups.
The ruling has been described by legal experts as a historic precedent in corporate terrorism financing law, as it is among the first instances in France where a multinational company has been convicted for directly funding armed extremist organisations.
The court also examined Lafarge’s operational structure following its 2015 merger into Holcim, which has not yet issued a detailed response to the ruling.
Prosecutors had earlier sought financial penalties and asset confiscation, but the court has yet to announce the final sentence and full penalties in the case.
The verdict follows related proceedings in the United States, where Lafarge previously admitted that its Syrian subsidiary made improper payments to armed groups and agreed to a large financial settlement in a separate investigation.
Analysts say the ruling could have far-reaching consequences for multinational companies operating in high-risk conflict zones, forcing stronger compliance systems, stricter oversight, and tighter controls to prevent indirect funding of armed groups.
The case is widely seen as a turning point in global corporate accountability, highlighting the legal risks companies face when continuing operations in war-torn regions where militant groups exert territorial control.
Lafarge Convicted of Terrorism Financing by French Court in Landmark Case
News
Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms
Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms
President Bola Ahmed Tinubu has declared that Nigeria has entered a new phase of economic transformation, insisting that the country will no longer operate a “broken, inefficient and unfair revenue system” as his administration intensifies fiscal and tax reforms.
Tinubu made the remarks in Abuja during the commissioning of the Nigerian Revenue Service (NRS) headquarters, where he reaffirmed that ongoing reforms are aimed at strengthening Nigeria’s tax system, improving revenue generation, and restoring public confidence in governance.
He described the reforms as a “covenant with Nigerians,” stressing that they are not political rhetoric but a deliberate effort to rebuild the country’s economic foundations and ensure long-term stability.
According to him, Nigeria is gradually transitioning “from uncertainty to renewed hope” through structural reforms designed to improve efficiency, fairness, and transparency in revenue administration.
The President emphasized that no country can achieve sustainable development with a weak fiscal structure, adding that his administration deliberately embarked on overhauling the system to eliminate leakages, improve compliance, and ensure that national revenue is effectively deployed for development.
READ ALSO:
- JAMB 2026: Police Dismiss Threat Rumours, Deploy Nationwide Security for UTME Centres
- Akpabio: Insecurity in Nigeria Will End Two Weeks After Elections
-
Fresh Boko Haram Attack Leaves Colonel, Six Soldiers Dead in Borno
“No nation achieves lasting prosperity on a weak and fragmented revenue system,” Tinubu said, adding that government must earn public trust through a fair and transparent tax structure.
He noted that the reforms are focused on simplifying tax processes, reducing distortions, and creating a more investment-friendly environment that encourages both local and foreign investors.
Tinubu also highlighted early signs of progress, pointing to improvements in fiscal stability, stronger reserves, and increased investor confidence as indicators that the reforms are beginning to yield results.
He attributed these gains to what he called “deliberate policy choices and national discipline,” insisting that the government remains committed to long-term structural changes rather than short-term economic fixes.
The President described the newly commissioned NRS headquarters as a symbol of institutional renewal and administrative efficiency, noting that it represents more than just a physical structure.
“This building is more than concrete and steel. It is a symbol of professionalism, transparency, efficiency and service delivery,” he said.
READ ALSO:
- ‘If Nigeria Fails, We All Feel It’ – Mahama Raises Alarm Over Insecurity
- Shari’ah Council Denies Viral Prayer Claim, Reiterates Call for INEC Chairman’s Removal
- Six Months Enough to End Insecurity in Nigeria If … – Ndume
Tinubu also tasked the Nigerian Revenue Service with evolving beyond revenue collection into a trust-building institution that reflects accountability and fairness in its operations. He stressed that taxpayers must see clear value for their contributions through improved public services and national development.
“The Nigerian Revenue Service must not only collect revenue, it must build trust,” he said, adding that institutions must demonstrate integrity and responsiveness to citizens.
He further acknowledged the challenges associated with economic reforms, noting that while such policies may cause short-term hardship, they are necessary for long-term prosperity and national stability.
Tinubu urged Nigerians to remain patient and supportive of ongoing reforms, saying sustainable development requires shared sacrifice and collective commitment.
The President also reiterated that Nigeria’s future depends on deliberate policy choices and strong institutions capable of driving inclusive growth and global competitiveness.
“We have chosen reform, we have chosen discipline, we have chosen progress,” he said. “We will stay the course until the promise of Nigeria is matched by the performance of its institutions.”
The commissioning of the NRS headquarters marks a key milestone in the federal government’s broader economic reforms in Nigeria, particularly in tax administration and public finance management, as authorities push to diversify revenue sources beyond oil dependence.
Tinubu Declares End to “Broken Revenue System”, Unveils New Economic Reforms
-
metro3 days agoBREAKING: Troops Arrest 15-Year-Old Linked to Killing of Gen Braimah in Borno
-
metro3 days agoFayose Warns Makinde May Query Olubadan Over Absence at Ibadan Coronation Event
-
metro3 days agoZulum Defends NAF Airstrike, Says Jilli Market Closed Five Years Ago
-
metro3 days agoBREAKING: 56 Killed in Accidental Bombing at Borno–Yobe Border Market
-
metro3 days agoPolice Arrest Suspect Over Fake Job Interview Robbery in Magodo
-
metro16 hours agoArise News Yet to Confirm Reported Suspension of Rufai Oseni
-
International2 days agoTrump Sparks Global Outrage After Calling Pope Leo XIV “Weak, Terrible”
-
metro1 day agoFresh Boko Haram Attack Leaves Colonel, Six Soldiers Dead in Borno


