Nigeria exported N7.3trn crude in first 6 months of 2018 – NBS

Nigeria’s crude oil export appreciated by 17.38 per cent to N7.308 trillion in the first six months of 2018 from N6.226 trillion recorded in the last six months of 2017, according to data obtained from the National Bureau of Statistics (NBS).

The NBS, in its Second Quarter 2018 Foreign Trade Statistics, stated that first half 2018 crude oil export figure represented an increase of 52.25 per cent compared with an export of N4.8 trillion recorded in the same period of 2017.

The NBS report stated that India emerged the highest importer of Nigeria’s crude oil, with the purchase of N635.25 billion, representing 87.9 per cent of its total import of N722.58 billion from Nigeria.

The Netherlands, Spain, South Africa, United States and Italy purchased Nigerian crude oil valued at N421.28 billion, N372.91 billion, N359.17 billion, N303.7 billion and N214.58 billion respectively.

Others in the top ten category are France, Sweden, Brazil and Thailand which imported Nigeria’s crude oil worth N134.81 billion, N175.03 billion, N139.38 billion and N90.25 billion respectively.

Source: The Nation

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