Oil and gas products dominate Nigeria’s exports for Q3 2022
Nigeria exported products associated with oil and gas to five countries in the third quarter of 2022.
This is according to data from the commodity price indices and terms of trade report recently published by the National Bureau of Statistics (NBS).
In the report, it was stated that in Q3 2022, Nigeria exported the following products to the following countries:
Spain: Nigeria exported petroleum oils and oils obtained from bituminous minerals, and crude worth N580.26 billion. The country also exported liquefied natural gas valued at N282.49 billion in the period under review.
India: Nigeria exported petroleum oils and oils obtained from bituminous minerals, and crude worth N559.35 billion. The country also exported liquefied natural gas worth N46.38 billion in the period under review.
France: Nigeria exported petroleum oils and oils obtained from bituminous minerals, crude valued at N413.83 billion. The country also exported natural gas at N10.26 billion, oil cake and other solid residues, resulting from extraction at N4.05 billion.
The Netherlands: Nigeria exported petroleum oils and oils obtained from bituminous minerals, crude at N396.51 billion.
The United States of America: Nigeria exported petroleum oils and oils obtained from bituminous minerals; crude worth N292.83 billion, and other petroleum gases in the gaseous state valued at N32.35 billion.
On the flip side, Nigeria’s oil and gas-associated imports for the period under review were:
Lubricating oils from Spain at N6.54 billion.
Kerosene type-jet fuel from India is valued at N60.97 billion and gas at N49.33 billion.
Motor Spirit from France is valued at N34.07 billion as well as petroleum oils at N4.67 billion.
Motor spirit from the Netherlands is worth N467.09 billion, as well as gas oil is valued at N30.06 billion.
For the record:
Nigeria’s crude oil production for September 2022 averaged 937,766 barrels per day (bpd), according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This is less than 972,394 bpd recorded for August 2022.
