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Top 5 Countries Nigerians Import Goods and products

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Countries Nigerians import

Nigerians import a high proportion of goods and products from other countries around the world. They also export indigenous goods and products to both neighboring and far away countries with which it operates a bilateral trade agreement.

Countries Nigerians import

Nigeria which is located in West Africa in the world is the 41st largest export economy and the 119th most complex economy according to the Economic Complexity Index (ECI).

Nigerians import several goods or products from any particular country, each country is having something that Nigeria wants for her people.

Goods and Products Nigerians import from other countries

These are goods and products Nigerians import below:

  • India: Nigerians import many products from India, and some of these products Nigerians’ import are pharmaceutical drugs, organic chemicals, nuclear reactors, machinery, paper and paperboard, iron and steel, and technical knowledge in many areas. According to the National Bureau of Statistics says Nigeria imported goods worth N408.572 billion from India in 2015.

Read Also: 7 JJC mistakes you must avoid in Lagos

  • China: The fact can’t be hiding that President Buhari and some of his cabinet recently in 2016 went to work out bilateral trade agreements with the Chinese. In order to build efforts of past governments to maximize trade with the major Asian country. What Nigerians import from China is electronics, mobile devices, engineering products, and technical skills for construction projects. It is estimated that China exported goods worth N1.567 trillion to Nigeria in 2015.

Read Also: 7 major business destinations in Africa

  • United Kingdom: Nigerians import fashion clothing, shoes, engineering facilities, vehicles, and hundreds of other items from the United Kingdom. It is estimated by the National Bureau of Statistics that Nigeria imported goods worth N283.759 billion from the UK in 2015.
  • United States: Nigerians import hundreds of finished and unfinished products from the United States every year, and the National Bureau of Statistics estimated Nigeria took in products worth N581.99 billion from America last year. Nigerians import almost everything from America, from clothing to vehicles to electronics to electrical appliances and hundreds of other household and public items.

Read Also: Travel destinations in Rivers State to visit

  • The Netherlands: Statistics revealed Nigeria imported goods worth N415.4 billion from the Netherlands last year, and these are clothes, bags, shoes, industrial products used in our factories. It must be pointed out that Nigeria does business with most countries of the world and imports fairly sizeable products from each, but the country wants to reduce importation so as to boost indigenous producers. The country also imports technical expertise too.

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Word Largest Business Incubator Platform is the Igbos Apprenticeship System – Robert Neuwirt

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largest business incubator

Igbo apprenticeship system is the world’s largest business incubator platform Says, Robert Neuwirth.

 

Robert Neuwirth, an American journalist cum author in 2018 talks about the Igbo apprenticeship system popularly known as ‘IGBA BOY’ or ‘IMU-AHIA’ as he gave a TED talk on age-old sharing economies of Africa – Why we should scale them.

According to Robert Neuwirth in the video, the Igbo apprenticeship system is the largest business incubator platform in the world because when an apprentice serves, his master is expected to set him up in business.

This model of business development and expansion have been for ages and well attributed to the Igbo tribe.

Related: Interesting facts about starting a business

He also added that the Igbo apprenticeships and business incubator model work well and locally generated venture capital and systems for allocating scarce water, can propagate and scale these models that could help communities thrive from the bottom up.

Here is a video of his TED talk below;

 

From the Igbo cultural view to this claim,

there’s a culture that frowns on children roaming the streets doing nothing in Igbo land, you must engage yourself with something. Also, Also, if a child is unable to go to school due to finance or some other reasons, his relatives ensure that he learns a trade from someone (The Master).

Related: Nnamdi Kanu, all you need to know about him

The said child will be sent to a master who is successful in a certain business and have the Child learn under him for a couple of years (5-7 years) depending on the agreement, thereafter, the Master he served/ learned the business from will set up his own business for him.

This business setup involved having the business master;

  1. Paying for office/shop outlet rent for him for few years (1-3 years)
  2. Cash infusion to start a business or Supply goods to him worth a decent amount for him to start
  3. Sometimes, giving him accessing to goods procurement on credit and having him pay up after selling them

Also See: 10 Richest Igbo men in Nigeria

It’s a very interesting business incubation model in Igbo land as this has helped the Igbo tribe pass their business strength from generation to generation regardless of relation making it the most powerful and largest business Incubation in the world right now as claimed by Robert Neuwirth in the Video. It is in the cost of serving a master for years that one will gather the business experience, skills and confidence needed to start his own business.

Even Aliko Dangote, the richest man in Africa is traced to the Igbo apprenticeship business model as he served his Uncle (Sani Dangote) before he borrowed money (500,000 Naira, amounting to $3000) to start running his own business in building materials.

Following the statement that The Igbo apprenticeship system is the largest business incubator platform in the world

Chris Ani on Facebook went further on it to say,

“The Igbo apprenticeship system has produced more millionaires than the entire University system in Nigeria”

 

That sounds audacious but true.

The post got over 2000 shares and triggered a long discussion among users on Facebook.

Now, judging from history and claims so far, i will say

“the Igbo apprenticeship incubator model has produced the largest and most sustainable business models in the world”

It moves from generation to generation.

Let me know your thoughts

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