Light bulbs, computer papers among other industrial supplies have emerged the highest on the list of Nigeria’s import profile data from Trading Economics, said.
Industrial materials like computer paper, light bulbs, lubrication oil, cleaning supplies, and office supplies have a total of 32 percent.
Industrial supplies are frequently purchased expense items. They contribute indirectly to the production of final products or to the administration of the production process.
Capital goods come next on the list with 24 percent. Capital goods are any tangible assets that an organization uses to produce goods or services such as office buildings, equipment and machinery. Consumer goods are the end result of this production process.
Transport equipment and parts come next on the list with 23 percent. This category of imported goods has been on the rise in Nigeria recently with the introduction of the country’s auto policy. Food and beverages make up 11 percent of the country’s imported goods.
Nigeria’s import partners are: China, which exports 17 of Nigeria’s current import needs; Albania, meeting 11.3 percent of current needs; United States, making up 7.5 percent. France and Belgium also export substantially to Nigeria.
Ghana, Nigeria’s nearest economic rival in the West African sub region in order of importance imports mostly industrial supplies, capital and consumer goods and foodstuffs also. Its main imports partners are China, United States, Belgium, United Kingdom and France.
Aganga hails PAN support for Automobile policy PSA Group Executive Vice President for Middle East and Africa, Mr. Jean-Christophe Quemard has commended the Federal Government for its vision in setting up the automotive plan.
Speaking during a visit to Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, Quemard added that PSA Group is closely monitoring the implementation of the policy, while expressing the Group’s renewed commitment to work with PAN and develop Peugeot in Nigeria and Africa in general.
Quemard assured the Minister that PSA Group is strongly committed to the development of Peugeot brands in Nigeria and will support the new auto policy as well as strengthen its partnership with PAN Nigeria to provide quality, affordable Peugeot cars and spare-parts with viable and technically sound after-sales support services and equipped dealership outlets across Nigeria.
Aganga however commended Peugeot Automobile Nigeria PAN for its remarkable support of the Nigerian automotive policy development plan and for its leading role in the auto sector.
Aganga said that he was impressed by the quality and standard of the workers as well as the quality cars produced locally.
Aganga said “PAN has been extremely supportive of the auto policy and the development process which took two years to develop.
“PAN played a very big role in ensuring that the auto policy comes into being as the Managing Director, Mr. Boyi has been exceptionally proactive and vocal in the industry since he assumed office”, Aganga said.
“Our job as government is to provide the right atmosphere for business to thrive and also work as partners to achieve the shared vision that we all have for the industry.
“It is my hope that we develop a symbiotic synergy that will result in a win-win situation for all stakeholders in the automotive sector”, he said.