Nigeria’s exports to China, India others hit N1.87tn

Commodity exports from Nigeria to China, India, Spain, Netherlands and South Africa in the first quarter of this year hit N1.87tn, the National Bureau of Statistics has said.

The NBS disclosed this in its Commodity Price Indices Terms of Trade report released on Thursday.

Petroleum products stood out as the most exported commodities in the first quarter of this year.

The major import into Nigeria came from India during the review period, with a monetary value of N637.5bn.

Export trade to India was dominated by crude oil valued at N526.9bn, followed by natural gas worth N91.3bn, and sesame seeds of N7.97bn.

Total exports from Nigeria to Spain during the period was N402.9bn, with crude oil accounting for N360.44bn or 89.46 percent.

Natural gas exported to the country was put at N31.97bn, while partially refined oil worth N5.29bn accounted for the export balance.

The value of exports from Nigeria to the Netherlands was N396.93bn, while the country’s exports to South Africa was valued at N319.47bn