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Nigerian Trade Deficit Narrows as Exports Surge on Devaluation

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According to the National Bureau of Statistics, exports increased 63 percent to 1.9 trillion naira in 2Q
Deficit narrowed to 196.5 billion naira vs 351.3 billion naira
Nigeria’s trade deficit narrowed in the second quarter as the value of exports from Africa’s most populous nation surged after a devaluation of the naira. Finally there is one good thing that comes out of the devaluation.

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