Nigeria earned N412.983 billion from the export of Liquefied
Natural Gas, LNG, Liquefied Petroleum Gas, LPG, also known as cooking gas and
other gaseous materials in three months, between July and September 2015,
according to data obtained from the National Bureau of Statistics, NBS.
Foreign Trade Statistics Report for the Third Quarter of
2015, revealed that this represented an increase of 9.5 per cent or N35.813
billion when compared to N377.17 billion earned by the country from the export
of those commodities in the second quarter of 2015.
Giving a breakdown of the third quarter figures, the NBS
stated that the country’s LNG export stood at N262.202 billion; liquefied
propane export was valued at N106.803 billion, while the export of other
petroleum gases, among others, in gaseous state was valued at N22.762 billion.
In addition, the country earned N10.101 billion from the
export of LPG and other gaseous hydrocarbons, while it also earned N8.115 billion
from the export of liquefied butanes.
Furthermore, the report identified India as Nigeria highest
export destination in the third quarter with an export value of N408.24
billion, comprising N382.884 billion and N25.356 billion crude oil and
non-crude oil export respectively.
Netherlands followed with total export value of N245.066
billion comprising crude oil and non-crude oil export of N228.2 billion and
16.86 billion respectively, while Spain’s export from Nigeria stood at N211.357
billion, with N159.5 billion been value for crude oil and N51.853 billion from
non-crude oil items.
Other export destinations in the quarter under review are:
United Kingdom — N192.231 billion total exports, with N85.07 billion crude oil
export and N107.17 billion non-crude oil export; Brazil — N169.44 billion, with
N140.84 billion and N28.6 billion crude oil and non-oil export.
In addition, France received N106.billion of Nigeria’s total
export; South Africa — N105.05 billion; United States — N85.51 billion; Japan —
N80.44 billion and Indonesia — N71.37 billion among others.
On the other hand, China emerged the destination with the
highest value of Nigeria’s import in the period under review, accounting for
N459.4 billion of Nigeria’s total imports. The United States followed with
Nigeria imports from the country valued at N160.6 billion, while the country
imports from Belgium stood at N128.32 billion.
Continuing, the report stated that, “Further analysis of
Nigeria’s imports by Continent, revealed that the country consumed goods
largely from Asia with imports valued at N 764.5 billion or 45.3 per cent of
total imports.
“The Country also imported goods valued at N596.4 billion or 35.3 per cent from Europe
and N241.3 billion or 14.3 per cent from The Americas. Import trade from Africa
stood at N65.4 billion or 3.9 per cent
while imports from the region of ECOWAS amounted to N16.3 billion.”
Credit:
vanguardngr.com
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