In 2018, bilateral trade between Togo and Nigeria exceeded $1 billion, in favor of Lagos

Economic governance
Wednesday, 04 September 2019 16:46
In 2018, bilateral trade between Togo and Nigeria exceeded $1 billion, in favor of Lagos

(Togo First) - Recently, Nigeria closed its borders with Benin. One of the reasons advanced by the West African giant to explain the move is its desire to end massive smuggling of products like rice to its neighbor. According to President Buhari, this jeopardizes Nigeria’s hardly achieved food sufficiency.

The door between Nigeria and Benin (the Sèmè border) being on the Abidjan-Lagos axis which also passes through Lomé, is important to assess trade between Nigeria and Togo.

According to the Togolese Statistics Office (INSEED), Nigeria is Togo’s 7th import partner. Over the first quarter of this year, Lomé purchased more than XOF10 billion worth of goods (free-on-board, including transportation fees). This is 14.8% more than the previous year, over the same period.

Moreover, Lagos is Togo’s first supplier within ECOWAS (35.7% of regional imports in Q1 2019). Nigeria, in this regard, comes before Ghana (27%), Côte d’Ivoire (12.6%) and is far ahead of Senegal (7.8%).

According to UN’s Comtrade aggregator, in 2018, bilateral trade between Togo and Nigeria exceeded $1.1 billion. The lion’s share of these exchanges was for Nigeria which imported only $31 million of goods from Togo. From its eastern neighbor, Lomé bought mostly oil products and derivatives ($1.1 billion in 2018).

Ayi Renaud Dossavi

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