Nigeria earned N2.512 trillion from the export of petroleum products
in three months, between April and June 2015, according to data
released Wednesday, by the 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
N4.372 trillion and a trade surplus of N1.4 trillion in the month under
review.

It is instructive to noted that the amount the country earned from
petroleum products sale in the second quarter of 2015, was 56.8 per
cent of the country’s N4.49 trillion 2015 budget.

Also the amount earned from the export of petroleum products
accounted for 57.5 per cent of Nigeria’s total merchandise trade and
87.3 per cent of total export.

In its classification of petroleum products export in the period under
review, the NBS data revealed that the country exported petroleum
oils and oils obtained from bituminous minerals and crude oil
valued at N2.121 trillion; liquefied natural gas valued at N260.7
billion, while liquefied petroleum gas and other gaseous
hydrocarbons valued at N66.41 billion was also exported.

Others are: liquefied propane — N43.88 billion, partially refined oil
including crude oil having gone primary refinement —N13.577 billion
and liquefied butanes — N6.15 billion.
Specifically , giving a breakdown of Nigeria’s merchandise trade, the
NBS stated that Nigeria’s total export stood at N2.879 trillion, while
total import stood at N1.49 trillion, thereby, leading to a trade
surplus of N1.39 trillion.
The value of total merchandise trade, according to the NBS, was 0.5
per cent less than the total of ₦4.393 trillion recorded in the first
quarter of 2014 and 34.3 per cent or N2.287 trillion less than the
amount recorded in the second quarter of 2014.
In addition, the report stated that at N2.879 trillion, Nigeria’s total
export appreciated by 8.0 per cent or N214.1 billion when compared
with the value of exports in the first quarter of 2015, while it
represented a decline of N1.8 trillion or 38.5 per cent when
compared with total exports of N4.682 trillion recorded in the
second quarter of 2014.
Continuing, the report stated that, “Other products exported by
Nigeria include vehicles, aircraft and parts thereof; vessels among
others at ₦250.6 billion or 8.7 per cent; Vegetable Products at ₦36.7
billion or 1.3 per cent, and Prepared foodstuffs; beverages, spirits
and vinegar; tobacco at ₦24.6 billion or 0.9 per cent of the totals
respectively.”
Furthermore, the report stated that Nigeria’s major export
destination was India, with export trade of N406.1 billion or 14.1 per
cent of total export.
Other top export destinations in the period under review were: Spain,
Netherlands, South Africa and Brazil with ₦297.4 billion or 10.3 per
cent, ₦296.3 billion or 10.3 per cent, ₦240.9 billion or 8.4 per cent
and ₦147.8 billion or 5.1 per cent of the total exports respectively.
In the area of imports, the report said, “The value of Nigeria’s
imports stood at ₦1.493 trillion during second quarter 2015, a
decrease of 13.6 per cent from the value of ₦1.728 trillion recorded
in the preceding quarter.
“Year-on-year, analysis showed that import trade was lower by
₦484.0 billion or 24.5 per cent.
“Nigeria imported goods mostly from China, United States, India,
Belgium and Netherlands, which respectively accounted for ₦336.5
billion or 22.5 per cent, ₦143.6 billion or 9.6 per cent, ₦115.4billion or
7.7 per cent, ₦83.4 billion or 5.6 per cent and ₦ 80.9 billion or 5.4 per
cent of the total value of goods imported during the quarter.”

http://www.vanguardngr.com/2015/08/nigeria-earns-n2-5trn-from-petroleum-products-export-in-3mths/

We are making progress.
From squandering to gathering.

So buhari is really working
Very soon world oil prices would be stabilized