Crude oil exports accounted for 74.98 per cent of the country’s total export value in the second quarter of 2024.
This was contained in the Foreign Trade Goods Statistics report released by the National Bureau of Statistics (NBS) on Wednesday.
The report stated that crude oil exports contributed N14.56 billion to the country’s total exports in the second quarter of the year.
Crude oil, liquefied natural gas, and other petroleum gases in a gaseous state, superior-quality cocoa beans, and urea were the leading commodities exported within the period under review, according to the statistics.
The value of total exports for Nigeria in Q2 2024 was N19,418.93 billion, representing a rise of 1.31 percent from Q1 2024, which was N19,167.36 billion, and 201.76 percent from Q2 2023, which was N6,435.13 billion.
While this was against a total value of imports during the review period at N12,473.53 billion.
This is coming as Nigeria posted a trade surplus valued at N6.95 trillion in the second quarter of 2024.
