Nigeria’s Exports Grow By 63% to N1.873trn in Q2 Crude oil contributes N1.5trn, non-oil, N380bn Negative trade balance widens Obinna Chima, Emma Okonji in Lagos and Dele Ogbodo in Abuja The total value of Nigeria’s export trade increased to N1.873 trillion in the second quarter (Q2) of 2016, representing an increase of N725.6 billion or
63.3 per cent, over the value recorded in the preceding quarter. The National Bureau of Statistics (NBS) disclosed this
in its foreign trade statistics for Q2 2016 that was released yesterday. According to the NBS, the improvement in export
value was largely due to the depreciation in the value of the naira. It, however, pointed out that the structure of the export trade
is still dominated by crude oil exports, which contributed N1.493 trillion or 79.7 per cent to the value of total domestic export trade in 2016.
Iran Seeks $50-$60 Oil Price as Barkindo Visits Tehran… Page 10
Exports by section revealed that Nigeria exported mainly mineral products, which accounted for N1.735 trillion or 92.7 per cent of the total export value. Other products Continued on page 8
Wednesday 7 September, 2016 Vol 21. No 7804. Price: N250
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TODAY'S WEATHER
ABUJA 16°C-33°C
MAIDUGURI 15°C-35°C
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ENUGU 22°C-34°C
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KANO 11°C-33°C
LAGOS 23C-31°C
PORT HARCOURT 20°C-30°C
Michael, Patriarch of Ibru Dynasty, Passes On at 85 Okowa, Ibori, others mourn Chiemelie Ezeobi in Lagos and Sylvester Idowu in Warri The patriarch of the Ibru dynasty, Olorogun Michael Ibru, yesterday finally
succumbed to the cold hands of death after years of battle with an undisclosed ailment. Continued on page 8
Buhari Relives 33-year-old Coup Statement, Tells Nigerians to Salvage the Country
Raises hope on economy, says recession over soon APC, PDP governors rally support for Obaseki, Ize-Iyamu Iyobosa Uwugiaren and Dele Ogbodo Dele Ogbodo in Abuja, Adibe Emenyonu in Benin City, Olakiitan Victor in Ado Ekiti President Muhammadu Buhari was nostalgic yesterday in Benin, reliving his 33-year-old coup statement in which he
asked Nigerians not to despair in the face of prevailing economic adversities, but urged them to rather remain resolute in the belief that only their collective will could salvage the country. Continued on page 8
BBOG Defies Police, Marches on Aso Rock Villa… Page 9
Ibru (See tribute on page 10)