Nigerias monthly trade surplus fell by 35 per cent, month-on-month, MoM to 1.39 billion in July from 2.14 billion in June, driven by increase in imports and slight decline in exports.
The Central Bank of Nigeria, CBN, disclosed this in its Monthly Economic Report for July, which showed that total exports fell by 0.8 per cent while total import rose by 25.09 per cent during the month.