Nigeria imported $3.47 billion worth of phones, generators, and other electrical goods in 2022 – Report

Nigeria imported $3.47 billion worth of phones, generators, and other electrical goods in 2022, according to a report.

In 2022, Nigeria spent $3.47 billion importing electrical equipment, including transformers, generating sets, and phones.

In a recent report, the International Trade Center revealed the amount.

According to the multilateral organization, which shares a mandate with the World Trade Organization and the United Nations, the cost of electrical imports into Africa’s most populous nation increased by 11.90% from $3.09 billion in 2022 to that amount.

Further investigation revealed that, despite declining foreign exchange reserves, Nigeria spent $10.26 billion importing electrical equipment over the previous three years.

Electric motors and generators, electric generating sets, electrical transformers, vacuum cleaners, electric shavers, hair clippers, and telephone sets, which include smartphones, facsimile machines for line telephony, teleprinters, and parts of telephone sets, are among the imports listed under the category of electrical machinery and equipment on the ITC portal.

Total phone imports were estimated to be $773.56 million in 2022, up 0.17 percent from $772.25 million in 2021.

Electric motors and generators worth $468.65 million and electrical transformers worth $357.36 million were also imported.

In 2022, the three products accounted for 46.06 percent of all electrical equipment imports.

The main countries from which electrical goods are imported into Nigeria are China, India, Germany, Turkey, Sweden, the United States, the United Kingdom, Austria, Italy, Vietnam, and France.

Approximately 63 million technological devices are sold in Nigeria each year, according to the Nigerian Communications Commission.

Nigeria has 222.5 million telephones, according to data released in April 2023 by the National Bureau of Statistics.