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 N1,628.85 billion accounting for 79.77 per cent of total exports to Africa, Electrical energy with N75.66 billion or 3.71 per cent, Dredgers with N73.99 billion or 3.62 per cent, Urea, whether or not in aqueous solution N40.34 billion or 1.98 per cent, and Cigarettes containing tobacco with N32.50 billion or 1.59 per cent.
NBS further noted that in Q4, 2024, the value of exports to African countries stood at N2.042.06 trillion, while imports amounted to N514.96 billion.
The report said Nigeria’s exports to Africa were mainly to South Africa with N761.95 billion, Ivory Coast with goods valued at N756.37billion, Senegal Republic with N236.87 billion, Cameroon with N54.02 billion, and Togo with N47.97 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 N148.84 billion, Egypt with N87.39 billion other import origins are
Equatorial Guinea with N43.50 billion, Ivory Coast with N41.40 billion and Swaziland with N40.55 billion.
NBS said on the other hand, Nigeria’s imports from African countries in Q4 2024 comprised mainly plasters with N35.47 billion or 6.89 per cent, Other Vehicles for goods transport, petrol fuel, engine 5tonne, excl. dumpers, CKD with N32.89 billion or 6.39 per cent, Butanes with N28.42 billion or 5.52 per cent, Mixtures of odoriferous substances of a kind used in the food or drink industries N28.41 billion or 5.52 per cent, and Crude palm oil with N18.13 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 N10.13 billion or 22.39 per cent, Petroleum bitumen valued at N14.38 billion or 17.76 per cent, Cocoa powder, containing added sugar or other sweetening matter worth N8.13 billion or 10.04 per cent, Beauty or makeup preparations valued at N4.93 billion or 6.09 per cent, and other Liquefied petroleum gases and other gaseous hydrocarbons worth N4.01 billion or 4.95 per cent of total export from ECOWAS region.
The Nation