According to the headline if one of the dailies today, it is reported that FG has awarded a contract to import umbrellas to the tune of 4.7 billion naira.

The amount spent on the importation of those materials notwithstanding, the country recorded a favourable balance of trade, with export volume exceeding import volume, as the total value of external merchandise trade amounted to N5,341.1 billion in the second quarter 2013, an increase of N242.3 billion or 4.8 per cent from N5,098.9 billion recorded in the previous quarter.

A document on Q2 trade statistics released by the National Bureau of Statistics (NBS) in Abuja, at the weekend, showed that the change resulted from an increase in the value of exports from N3,452.1 billion in the first quarter of 2013 to N3,742.9 billion in the second quarter (an increase of 90.8 billion or 8.4 per cent) and a 2.9 per cent decline in the value of imports from N1,646.7 billion in the first quarter of 2013 to N1,598.2 billion in the second quarter.

Furthermore, NBS said the increase in exports and decrease in imports resulted in a favourable trade balance of N2,144.7 billion in the second quarter, an increase of1 N339.3 billion or 18.8 per cent from levels recorded in the first quarter of 2013.

Further analysis indicated that the value of the nation’s total merchandise trade decreased by N1,742.8 billion or 24.6 per cent, while trade balance also declined by 49.7 per cent.

According to the analysis, imports increased by 13.5 per cent, while exports decreased by 34.1 per cent year on year.

The crude oil component of the total trade stood at N2,709.4 billion, a decrease of N321.2 billion or 10.6 per cent when compared with the previous quarter, while for year-on-year, the crude oil component recorded a 23.6 per cent decline.

The value of total trade for the first half of 2013 was N10,440.0 billion, a decrease of N3,266.0 billion or 23.8 per cent when compared with N13,706.0 billion recorded in the same period in 2012.

The value of Nigeria’s imports stood at N1,598.2 billion in the second quarter of 2013, a decrease of N48.5 billion or 2.9 per cent from N1,646.7 billion recorded in the first quarter.

In the second quarter of 2013, the value of imports increased by 13.5 per cent year-on-year. For the first half of the year, the total value of imports stood at N325.0 billion, a 6.0 per cent increase from N3,060.7 billion recorded in the corresponding part of the previous year.

The decline of imports in the second quarter 2013 relative to the first quarter of the year resulted from the decline of some products classified according to SITC, such as crude inedible materials, which accounted for N12.2 billion or 0.8 per cent of total imports; oil and fats at N1.2 billion or 0.1 per cent; mineral fuels at N14.2 billion or 0.9 per cent and beverages and tobacco with N6.7 billion or 0.4 per cent of total imports.

Details of imports classified by sections showed that footwear, headgear and umbrellas accounted for N4.7 billion or 0.3 per cent of total imports; miscellaneous manufactured articles accounted for N7.0 billion or 0.4 per cent; mineral products were recorded at N254.7 billion or 15.9 per cent and vehicles, aircraft and parts at N89.4 billion or 5.6 per cent.

The Nigerian imports, according to Broad Economic Category, revealed that consumer goods accounted for N55.7 billion or 3 per cent of total imports; transport equipment and associated parts, N57.8 billion or four per cent, while food and beverages were recorded at N147.5 billion or nine per cent.

http://www.tribune.com.ng/news2013/index.php/en/component/k2/item/21704-nigeria-spent-n4-7bn-to-import-umbrellas,-headgear-in-3-months.html

I need an authentic source to this story before i say what's on my mind!

it's a lie.

Fresh Air.

Fresh fish

Witches and wizards are preparing to congregate

I'm very sure this news is authentic anyway, I'd post the source as soon as I get the newspaper.

It is na LIE...

Ta! Come rain come shine, its a lie.

End time umbrella

Femmyfamous4u: I'm very sure this news is authentic anyway, I'd post the source as soon as I get the newspaper.

Does it have anything to do with PDP umbrella? If yes...... am ready for a showdown with the PDP goons on this forum.

Nigeria spent N4.7bn to import umbrellas, headgear in 3 months

THE Federal Government spent N4.7 billion to import umbrella, footwear and headgear in the second quarter of 2013.

The amount spent on the importation of those materials notwithstanding, the country recorded a favourable balance of trade, with export volume exceeding import volume, as the total value of external merchandise trade amounted to N5,341.1 billion in the second quarter 2013, an increase of N242.3 billion or 4.8 per cent from N5,098.9 billion recorded in the previous quarter.

A document on Q2 trade statistics released by the National Bureau of Statistics (NBS) in Abuja, at the weekend, showed that the change resulted from an increase in the value of exports from N3,452.1 billion in the first quarter of 2013 to N3,742.9 billion in the second quarter (an increase of 90.8 billion or 8.4 per cent) and a 2.9 per cent decline in the value of imports from N1,646.7 billion in the first quarter of 2013 to N1,598.2 billion in the second quarter.

Furthermore, NBS said the increase in exports and decrease in imports resulted in a favourable trade balance of N2,144.7 billion in the second quarter, an increase of1 N339.3 billion or 18.8 per cent from levels recorded in the first quarter of 2013.

Further analysis indicated that the value of the nation’s total merchandise trade decreased by N1,742.8 billion or 24.6 per cent, while trade balance also declined by 49.7 per cent.

According to the analysis, imports increased by 13.5 per cent, while exports decreased by 34.1 per cent year on year.

The crude oil component of the total trade stood at N2,709.4 billion, a decrease of N321.2 billion or 10.6 per cent when compared with the previous quarter, while for year-on-year, the crude oil component recorded a 23.6 per cent decline.

The value of total trade for the first half of 2013 was N10,440.0 billion, a decrease of N3,266.0 billion or 23.8 per cent when compared with N13,706.0 billion recorded in the same period in 2012.

The value of Nigeria’s imports stood at N1,598.2 billion in the second quarter of 2013, a decrease of N48.5 billion or 2.9 per cent from N1,646.7 billion recorded in the first quarter.

In the second quarter of 2013, the value of imports increased by 13.5 per cent year-on-year. For the first half of the year, the total value of imports stood at N325.0 billion, a 6.0 per cent increase from N3,060.7 billion recorded in the corresponding part of the previous year.

The decline of imports in the second quarter 2013 relative to the first quarter of the year resulted from the decline of some products classified according to SITC, such as crude inedible materials, which accounted for N12.2 billion or 0.8 per cent of total imports; oil and fats at N1.2 billion or 0.1 per cent; mineral fuels at N14.2 billion or 0.9 per cent and beverages and tobacco with N6.7 billion or 0.4 per cent of total imports.

Details of imports classified by sections showed that footwear, headgear and umbrellas accounted for N4.7 billion or 0.3 per cent of total imports; miscellaneous manufactured articles accounted for N7.0 billion or 0.4 per cent; mineral products were recorded at N254.7 billion or 15.9 per cent and vehicles, aircraft and parts at N89.4 billion or 5.6 per cent.

The Nigerian imports, according to Broad Economic Category, revealed that consumer goods accounted for N55.7 billion or 3 per cent of total imports; transport equipment and associated parts, N57.8 billion or four per cent, while food and beverages were recorded at N147.5 billion or nine per cent.

A summary of Nigeria’s imports by region showed that Asia ranked highest with N672.8 billion or 42.1 per cent of total imports, Europe recorded N584.6 billion or 36.6 per cent, America at N211.5 billion or 13.2 per cent, while Africa stood at N119.4 billion or 7.5 per cent.

Out of the total imports from Africa, Economic Community of West African States (ECOWAS) countries contributed N59.7 billion or 50 per cent.


http://tribune.com.ng/news2013/index.php/en/component/k2/item/21704-nigeria-spent-n4-7bn-to-import-umbrellas,-headgear-in-3-months.html

Jonathans destiny is to bankrupt Nigeria

i_laugh: Nigeria spent N4.7bn to import umbrellas, headgear in 3 months

THE Federal Government spent N4.7 billion to import umbrella, footwear and headgear in the second quarter of 2013.

The amount spent on the importation of those materials notwithstanding, the country recorded a favourable balance of trade, with export volume exceeding import volume, as the total value of external merchandise trade amounted to N5,341.1 billion in the second quarter 2013, an increase of N242.3 billion or 4.8 per cent from N5,098.9 billion recorded in the previous quarter.

A document on Q2 trade statistics released by the National Bureau of Statistics (NBS) in Abuja, at the weekend, showed that the change resulted from an increase in the value of exports from N3,452.1 billion in the first quarter of 2013 to N3,742.9 billion in the second quarter (an increase of 90.8 billion or 8.4 per cent) and a 2.9 per cent decline in the value of imports from N1,646.7 billion in the first quarter of 2013 to N1,598.2 billion in the second quarter.

Furthermore, NBS said the increase in exports and decrease in imports resulted in a favourable trade balance of N2,144.7 billion in the second quarter, an increase of1 N339.3 billion or 18.8 per cent from levels recorded in the first quarter of 2013.

Further analysis indicated that the value of the nation’s total merchandise trade decreased by N1,742.8 billion or 24.6 per cent, while trade balance also declined by 49.7 per cent.

According to the analysis, imports increased by 13.5 per cent, while exports decreased by 34.1 per cent year on year.

The crude oil component of the total trade stood at N2,709.4 billion, a decrease of N321.2 billion or 10.6 per cent when compared with the previous quarter, while for year-on-year, the crude oil component recorded a 23.6 per cent decline.

The value of total trade for the first half of 2013 was N10,440.0 billion, a decrease of N3,266.0 billion or 23.8 per cent when compared with N13,706.0 billion recorded in the same period in 2012.

The value of Nigeria’s imports stood at N1,598.2 billion in the second quarter of 2013, a decrease of N48.5 billion or 2.9 per cent from N1,646.7 billion recorded in the first quarter.

In the second quarter of 2013, the value of imports increased by 13.5 per cent year-on-year. For the first half of the year, the total value of imports stood at N325.0 billion, a 6.0 per cent increase from N3,060.7 billion recorded in the corresponding part of the previous year.

The decline of imports in the second quarter 2013 relative to the first quarter of the year resulted from the decline of some products classified according to SITC, such as crude inedible materials, which accounted for N12.2 billion or 0.8 per cent of total imports; oil and fats at N1.2 billion or 0.1 per cent; mineral fuels at N14.2 billion or 0.9 per cent and beverages and tobacco with N6.7 billion or 0.4 per cent of total imports.

Details of imports classified by sections showed that footwear, headgear and umbrellas accounted for N4.7 billion or 0.3 per cent of total imports; miscellaneous manufactured articles accounted for N7.0 billion or 0.4 per cent; mineral products were recorded at N254.7 billion or 15.9 per cent and vehicles, aircraft and parts at N89.4 billion or 5.6 per cent.

The Nigerian imports, according to Broad Economic Category, revealed that consumer goods accounted for N55.7 billion or 3 per cent of total imports; transport equipment and associated parts, N57.8 billion or four per cent, while food and beverages were recorded at N147.5 billion or nine per cent.

A summary of Nigeria’s imports by region showed that Asia ranked highest with N672.8 billion or 42.1 per cent of total imports, Europe recorded N584.6 billion or 36.6 per cent, America at N211.5 billion or 13.2 per cent, while Africa stood at N119.4 billion or 7.5 per cent.

Out of the total imports from Africa, Economic Community of West African States (ECOWAS) countries contributed N59.7 billion or 50 per cent.


http://tribune.com.ng/news2013/index.php/en/component/k2/item/21704-nigeria-spent-n4-7bn-to-import-umbrellas,-headgear-in-3-months.html

Imagin the federal government importing UMRELLA(unblera in patience's voice), and they want Nigerians to buy locally made products.

Just last week I realized the matches we use in Nigeria are imported from India

I am sure oga Jona himself wears Italian shoe.
The only thing we produce is cassave bread, which most of its ingredients are also imported except for the cassava itself.

The government has spent the money already. The report is an analysis to show what the govt bought.

Na wa oh and when guys can produce these things at home for a cheaper price.

With that amount spent on it, all she could do is to call it umblerra

End time tinz

Umbrella for what?
Ehehehehehehe
Too much rainfall and sunshine in Nigeria abi?
I see...

...

Waiting for the denial...

Demdem: Fresh Air.

Umblella

Some people are so STUPI.D, just Plain STU.PID.

How can anybody read this Article, esp the part that says: 'Nigeria spent #4.7bn to import FOOTWEARS, HEADWEARS and UMBRELLAS', and believe it to mean that the Govt imported #4.7bn worth of Umbrellas, for ffuck's sake? So the traders who imported these Goods from China and Co work for the Govt??

JEEZ!!! Some Chaps can be so incredibly DENSE. God Forbid!

heard it on radio dis morng... ds is pathtic! gej!!!

D umbrella dat dey spend d money 4 is it not 4 d PDP member......

Rain go fall for Nigeria for five years so we need umbrellas?

Our Herd mentality na real wa for this country oh!
Nigeria's EXTERNAL trade news report suddenly translates to FG imports umbrella.
Sometimes you wonder if people went to night schools where they used lanterns and candles to teach them.
Meanwhile no one saw this part, I guess:

The amount spent on the importation of those materials notwithstanding, the country recorded

a [size=13pt]favourable

---

[/size] balance of trade,

with export volume exceeding import volume, as the total value of external merchandise trade amounted to N5,341.1 billion in the second quarter 2013, an increase of N242.3 billion or 4.8 per cent from N5,098.9 billion recorded in the previous quarter.

A document on Q2 trade statistics released by the National Bureau of Statistics (NBS) in Abuja, at the weekend, showed that the change resulted from an increase in the value of exports from N3,452.1 billion in the first quarter of 2013 to N3,742.9 billion in the second quarter (an increase of 90.8 billion or 8.4 per cent) and a 2.9 per cent decline in the value of imports from N1,646.7 billion in the first quarter of 2013 to N1,598.2 billion in the second quarter.

Furthermore, NBS said the increase in exports and decrease in imports resulted in a favourable trade balance of N2,144.7 billion in the second quarter, an increase of1 N339.3 billion or 18.8 per cent from levels recorded in the first quarter of 2013.

No wonder Tinubu & co were just cleaning us up like crazy (and still continue to do) selling us mumu-cious propaganda & outright LIES that is empty!!!

Hahahahahahaahahahaahahaahahahahaahahahaaha!


Now you people are really getting desperate and ridiculous. Is this how you want to take over Nigeria?

With lies and fallsehood everyday? From Gold Iphones to Amaechi slept on the streets to 4.7 billion Naira umbrellas!!!


You guys are making a fool of yourselves. It is pathetic!!! Desperation is a sign that you lot have failed woefully!!!!!

And how does that concern you APC ODUDUWA people?

Nonsense Journalism. Just because they mentioned FG spent didn't mean that FG DID. shey na tribune newspaper. Before you believe this nonsense try and read and understand this article before you rush to comment. This article is not straight forward. I think they wanted to say Nigeria spent 4.7B to import those stuffs.



Before you jump up and start calling Jonathan names, have you read this shit of an article and did you understand it? Or because just a line in the article says.

THE Federal Government spent N4.7 billion to import umbrella, footwear and headgear in the second quarter of 2013.

without stating any reason for the import................ If you cant sense the propaganda in this article then you need your brain to be fumigated with anti hatred chemical.

Una don tok GOLD IPHONE, e no do una, una don go for 4.7b shoes... Propaganda aint gonna get aso rock seat for una.

Please people it isnt the government importing these items but traders in the country. Read the article first before commenting.

gboss4sure: Nonsense Journalism. Just because they mentioned FG spent didn't mean that FG DID. shey na tribune newspaper. Before you believe this nonsense try and read and understand this article before you rush to comment. This article is not straight forward. I think they wanted to say Nigeria spent 4.7B to import those stuffs.

Help me ask dem if FG dey sell umbrellas and shoes?

When you talk about balance of trade, you are talking about total imports vs total export of a country. These illiterates are making a fool of themselves!!! Shame!!!!!!!!!

[size=16]
The MODS should change the Title of this thread; it is so damn Deceptive.[/size]

A COMPLETE LIE