Taiwo Popoola
The National Bureau of Statistics has said Nigeria’s top five trading export partners in the fourth quarter of 2024 were the Netherlands, France, Spain, India and Indonesia.
In terms of imports, the NBS noted that China remained Nigeria’s highest trading partner on the import side in the fourth quarter of 2024, followed by India, Belgium, the United States of America, and France.
The National Bureau of Statistics disclosed this in its latest foreign trade data for Q4 2024.
According to the data, the most exported goods in Q4 included crude oil, liquefied natural gas, other petroleum gases in a gaseous state, superior quality cocoa beans, and urea, whether or not in aqueous solution.
On the import side, the most traded commodities during the quarter were motor spirit ordinary, gas oil, cane sugar meant for sugar refineries, other parts of airplanes, helicopters, or unmanned aircraft, and photovoltaic cells not assembled in modules or made up into panels.
The value of exports stood at N20,014.33 billion, while imports amounted to N16,590.51 billion, bringing Nigeria’s total merchandise trade to N36,604.83 billion in the quarter under review—a rise of 2.20 percent compared to the value recorded in the preceding quarter (N35,818.35 billion).
Urban Express News Online reports that while PMS dominated imports, crude oil dominated Nigeria’s exports during the period under review.
The PMS import comes at a time when Aliko Dangote, the President of Dangote
Refinery, said his facility can meet Nigeria’s Local Demand
