Stanbic IBTC Bank Africa Trade Barometer
The Stanbic IBTC Bank Africa Trade Barometer is a dynamic tool for evaluating cross-border trade across 10 African countries, including Nigeria. Launched in 2022, it is aimed at filling the information gap in African trade through analyses of relevant primary and secondary data which are then presented for use by practitioners and interest groups in the Trade ecosystem. The barometer assesses key factors such as macroeconomic stability, infrastructure, trade openness, and access to finance.
The Stanbic IBTC Bank Africa Trade Barometer is a dynamic tool for evaluating cross-border trade across 10 African countries, including Nigeria. Launched in 2022, it is aimed at filling the information gap in African trade through analyses of relevant primary and secondary data which are then presented for use by practitioners and interest groups in the Trade ecosystem. The barometer assesses key factors such as macroeconomic stability, infrastructure, trade openness, and access to finance.
Nigeria's performance in the latest edition improved to 5th place overall, reflecting gains in infrastructure, government support, and trade-related revenues, though challenges persist with low business confidence and ease of trade concerns.
The survey results reveal trends in domestic sourcing, shifting trade dynamics with Asia, and the growing use of digital payment methods, even as businesses call for improved government facilitation, especially in customs efficiency and access to credit.
Infrastructure improvements, such as the Lagos-Calabar highway and national power projects, signal progress, though structural inefficiencies still hinder broader economic competitiveness.
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