Is anybody sitting down in Abuja and doing the number crunching to see what gaps in the global market Nigeria can fill as Russian products are no longer available?

Ayo Akinfe 

[1] Crude oil is Russia’s biggest export, accounting for $123bn of its export revenues

[2] Then, refined petroleum product exports like petrol and diesel bring in $66.2bn

[3] Gas exports fetch Russia $26.3bn

[4] Coal exports earn Russia $17.6bn

[5] Russia is also the world’s largest exporter of wheat, bringing in $8.14bn from sales in 2019

[6] It is also a big exporter of semi-finished iron, including iron bars, with sales worth just under $7bn in 2019

[7] Russia is also a large supplier of nickel which generates $4.03bn annually

[8]  Furthermore Russian exports of nitrogen-based fertilizers earns the country $3.05bn

[9] Russia is the world’s sixth-largest exporter of gold, accounting for 4.4% of the global supply and the 10th biggest supplier of lead. 

[10] Russia accounts for 10% of the world’s supply of nickel which is used to make stainless steel and vehicle batteries. The price of nickel soared by 250% in a day when war with Ukraine broke out, amid fears that sanctions would hit supplies and the London Metal Exchange even suspended trading of the metal because of the unprecedented price rises
 

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