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Can Nigeria sustain its trade boom? Oil still dominates

A bustling shipping port with colorful stacked containers. Photo by Andrea Musto @ Pexels
A bustling shipping port with colorful stacked containers. Photo by Andrea Musto @ Pexels

Vincent Nwanma

Vincent Nwanma is a seasoned analyst, columnist, and reporter with over 30 years of experience in business and economics journalism across Nigeria and Africa.
  • Trade surplus widened sharply as oil and refined-product exports surged.
  • Portfolio flows dominate capital inflows, raising questions about durability.

 

ABUJA, NIGERIA — Nigeria’s external finances are strengthening rapidly, but their dependence on oil and volatile portfolio capital is testing how durable the recovery may prove.

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