Tinubu discusses climate change with King Charles III 

Hails NBS report on N6.9tr trade surplus

President Bola Tinubu, yesterday, visited Buckingham Palace for a private meeting in London and was received by King Charles III. The meeting highlighted the enduring and cherished relationship between Nigeria and the United Kingdom.  

In another development, President Tinubu has hailed the National Bureau of Statistics (NBS) ‘s new report, which recorded another trade surplus in the second quarter of 2024, hitting N6.95 trillion on the country’s trade balance.
 
According to the report, the status is 6.60 per cent higher than the N6.52 trillion surplus recorded in the first quarter. Just days after the country recorded almost 100 per cent oversubscription of its first $500 million domestic bond and half-year revenue of N9.1 trillion, the latest report underscores the increasing positive shifts in the economy over the last year.
 
Onanuga, in a statement, quoted President Tinubu as expressing confidence in the reforms his administration was pursuing, just as he expressed optimism they would create a more robust economy that would usher in a new era of prosperity for Nigerians.

“The NBS report reflects the country’s strong export performance in the second quarter.
  
“Although total merchandise trade in Q2 2024 stood at N31.89 trillion, a 3.76 per cent decline compared to the preceding quarter (Q1 2024), it marked a 150.39 per cent rise from the corresponding period in 2023,” he said. The NBS reported that the Q2 surplus was essentially driven by exports to Europe, the United States and Asia.