In 3 months Nigeria earns N2.5trn from petroleum products export. Records N4.3trn total trade and N1.49trn surplus


This was between April and June 2015, according to National Bureau of Statistics, NBS. The NBS, in its Foreign Trade Statistics for the Second Quarter of 2015, also stated that Nigeria recorded total merchandise trade of N4.372trn and
a trade surplus of N1.4trn in the month under review.

It is instructive to noted that the amount the country earned from petroleum products sale in the 2nd quarter of 2015, was 56.8% of the country’s N4.49trn 2015 budget. Also the amount earned from the export of petroleum products accounted for 57.5% of Nigeria’s total merchandise trade and 87.3% of total export.

In addition, the report stated that at N2.879trn, Nigeria’s total export appreciated by 8% or N214.1b when compared with the value of exports in the first quarter of 2015, while it represented a decline of N1.8trn or 38.5% when compared with total exports of N4.682trn recorded in the 2nd quarter of 2014.

The value of total merchandise trade, according to the NBS, was 0.5% less than the total of ₦4.393trn recorded in the first quarter of 2014 and 34.3% or N2.287trn less than the amount recorded in the 2nd quarter of 2014….. I can’t afford to miss heaven by lying dt I understand d above report bt lemme join u all to shout “GEJ we miss u. Pls come back in 2023.”…..

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