The National Bureau of Statistics (NBS) has revealed that crude oil exports accounted for 74.98 percent of Nigeria’s total export value in the second quarter of 2024.
According to the NBS Foreign Trade Goods Statistics report released on Wednesday, September 11, 2024, crude oil exports contributed N14.56 billion to the country’s total export earnings for the quarter. Other top exports included liquefied natural gas, other petroleum gases, superior-quality cocoa beans, and urea.
Nigeria’s total exports for Q2 2024 were valued at N19,418.93 billion, reflecting a 1.31 percent increase from N19,167.36 billion in Q1 2024 and a significant 201.76 percent rise from N6,435.13 billion in Q2 2023. During the same period, total imports were valued at N12,473.53 billion, resulting in a trade surplus of N6.95 trillion for the quarter.
