Nigeria exports N75.66b electricity in Q4 2024 – NBS
In the fourth quarter of 2024 (Q4 2024) Nigeria exported N75.66 billion to African countries.
The National Bureau of Statistics (NBS) disclosed this in its document titled: “Foreign Trade Statistics Report (Q4 2024).”
The countries Nigeria exports electricity to are Togo, Benin Republic and Republic of Niger.
But the report also said in the period under review, Nigeria exported bituminous minerals worth N1.62 trillion.
NBS said, “Analysis by commodities showed that the main commodities exported to African countries in the quarter under review were Petroleum oils and oils obtained from bituminous minerals valued at ₦1,628.85 billion accounting for 79.77 per cent of total exports to Africa, Electrical energy with ₦75.66 billion or 3.71 per cent, Dredgers with ₦73.99 billion or 3.62 per cent, Urea, whether or not in aqueous solution ₦40.34 billion or 1.98 per cent, and Cigarettes containing tobacco with ₦32.50 billion or 1.59 per cent.
The top five products accounted for 90.66 per cent of total exports to Africa, according to the report.
NBS further noted that in Q4, 2024, the value of exports to African countries stood at ₦2.042.06 trillion, while imports amounted to ₦514.96 billion.
The report said Nigeria’s exports to Africa were mainly to South Africa with ₦761.95 billion, Ivory Coast with goods valued at ₦756.37billion, Senegal Republic with ₦236.87 billion, Cameroon with ₦54.02 billion, and Togo with ₦47.97 billion altogether representing 90.95.per cent of exports to Africa.
NBS said on the other hand, Nigeria’s major import partners in Q4 2024 were South Africa with goods valued at ₦148.84 billion, Egypt with ₦87.39 billion other import origins are:
Equatorial Guinea with ₦43.50 billion, Ivory Coast with ₦41.40 billion and Swaziland with ₦40.55 billion.
NBS said on the other hand, Nigeria’s imports from African countries in Q4 2024 comprised mainly plasters with ₦35.47 billion or 6.89 per cent, Other Vehicles for goods transport, petrol fuel, engine=<5tonne, excl. dumpers, CKD with ₦32.89 billion or 6.39 per cent, Butanes with ₦28.42 billion or 5.52 per cent, Mixtures of odoriferous substances of a kind used in the food or drink industries ₦28.41 billion or 5.52 per cent, and Crude palm oil with ₦18.13 billion or 3.52 per cent of total imports from African countries.
NBS said on the other hand, Nigeria’s imports from ECOWAS countries were mainly Crude palm oil valued at ₦10.13 billion or 22.39 per cent, Petroleum bitumen valued at ₦14.38 billion or 17.76 per cent, Cocoa powder, containing added sugar or other sweetening matter worth ₦8.13 billion or 10.04 per cent, Beauty or makeup preparations valued at ₦4.93 billion or 6.09 per cent, and other Liquefied petroleum gases and other gaseous hydrocarbons worth ₦4.01 billion or 4.95 per cent of total export from ECOWAS region.
