Crude oil exports made up 80.80 percent of Nigeria’s export figure in the first quarter of 2024.
This is according to the National Bureau of Statistics (NBS) latest foreign goods trade data.
The report noted that crude oil exports stood at ₦15,486.63 billion in Q1 2024.
Non-crude oil exports was ₦3,680.73 billion, accounting for 19.20 percent of total exports.
Accordingly, this sums up the country’s total exports in the quarter under review to ₦19,167.36 billion.
“Exports trade in the first quarter of 2024 was dominated by crude oil exports valued at ₦15,486.63 billion, representing 80.80% of total exports, while the value of non-crude oil exports stood at ₦3,680.73 billion, accounting for 19.20% of total exports; of which non-oil products contributed ₦1,778.85 billion, or 9.28% of total exports,” the report stated.
In a similar development, the country’s imports in Q1 2024 stood at ₦12,643.23 billion.
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