SEREC: Group Urges Action On Trade Imbalance Amid Nigeria’s Revenue Surge

The Sea Empowerment and Research Centre (SEREC) has called for urgent action to address trade imbalance amid Nigeria’s revenue surge. SEREC’s call is contained in its September bulletin, made available by its Head of Research, Eugene Nweke, on Tuesday in Abuja..  .Read ..Full.. Article.. .

The organisation called for the streamlining of levies, strengthening of the single-window clearance system and expansion of export incentives. It said that although Nigeria recorded its strongest fiscal performance between January and August, this had not reflected in trade.

It said that imports remained high while exports stayed low, leaving the country vulnerable to price shocks. It noted that Nigeria consumed more than it produced and that the African Continental Free Trade Area (AfCFTA) remained under utilised for finished exports. This is in addition to over reliance on foreign goods, which could undermine local industries and job creation.

The News Agency of Nigeria (NAN) recalls that President Bola Tinubu recently highlighted the significant growth in non-oil revenues accruing to the Federation from January to August 2025, with total collections reaching N20.59 trillion, and..  Read . .More —