Nigeria exports N7.3trn crude oil in first 6 months of 2018

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.

Giving a breakdown of Nigeria’s crude oil export on a quarter-on-quarter basis, the NBS report stated that in the first and second quarters of 2018, N3.58 trillion and N3.729 trillion worth of crude oil was exported respectively, compared to N2.97 trillion and N3.255 trillion recorded in the third and fourth quarter of 2017 respectively.

Source: Vanguard

 

 

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