LAGOS—Nigeria earned N2.838 trillion from the export of petroleum products in the first quarter of 2015, according to data released, yesterday, by the National Bureau of Statistics, NBS.

The amount is 64.18 per cent of the Federal Government’s 2015 budget of N4.425 trillion.

The NBS, in its Foreign Trade Statistics for the first quarter of 2015, stated that the export of petroleum products accounted for 87.86 per cent of Nigeria’s total merchandise export of N3.23 trillion in the first quarter.

Giving a breakdown of the petroleum products export, the NBS disclosed that crude oil emerged the highest exported commodity in the quarter under review, valued at N2.251 trillion, representing 69.7 per cent of the country’s total export.

The value of the country’s crude oil export in the first quarter of 2015 represents an appreciation of 0.54 per cent when compared against N2.239 trillion recorded in the preceding quarter. The amount is, however, a decline of 30.4 per cent from total crude oil export of N3.234 trillion recorded in the first quarter of 2014.

Liquefied Natural Gas followed with an export value of N306.16 billion, while the country earned N152.268 billion from the export of liquefied propane.

Also, N128.49 billion was earned from the export of partially refined crude oil products; N21.247 billion from liquefied butanes and N4.706 billion was earned from the export of Liquefied Petroleum Gas and other gaseous hydrocarbons.

In general, the NBS stated that Nigeria exported mainly mineral products, which accounted for 2.880 trillion or 89.2 per cent of total exports.

Continuing, the NBS said: “The value of merchandise exports totalled 3.23 trillion in the first quarter of 2015, an increase of 275.6 billion or 9.3 per cent over the value recorded in the preceding quarter. ”
- See more at: http://www.vanguardngr.com/2015/05/nigeria-earns-n2-8trn-from-petroleum-products-in-3-months/#sthash.gslqHL7H.dpuf

Johnnyessence:
LAGOS—Nigeria earned N2.838 trillion from the export of petroleum products in the first quarter of 2015, according to data released, yesterday, by the National Bureau of Statistics, NBS.

The amount is 64.18 per cent of the Federal Government’s 2015 budget of N4.425 trillion.

The NBS, in its Foreign Trade Statistics for the first quarter of 2015, stated that the export of petroleum products accounted for 87.86 per cent of Nigeria’s total merchandise export of N3.23 trillion in the first quarter.

Giving a breakdown of the petroleum products export, the NBS disclosed that crude oil emerged the highest exported commodity in the quarter under review, valued at N2.251 trillion, representing 69.7 per cent of the country’s total export.

The value of the country’s crude oil export in the first quarter of 2015 represents an appreciation of 0.54 per cent when compared against N2.239 trillion recorded in the preceding quarter. The amount is, however, a decline of 30.4 per cent from total crude oil export of N3.234 trillion recorded in the first quarter of 2014.

Liquefied Natural Gas followed with an export value of N306.16 billion, while the country earned N152.268 billion from the export of liquefied propane.

Also, N128.49 billion was earned from the export of partially refined crude oil products; N21.247 billion from liquefied butanes and N4.706 billion was earned from the export of Liquefied Petroleum Gas and other gaseous hydrocarbons.

In general, the NBS stated that Nigeria exported mainly mineral products, which accounted for 2.880 trillion or 89.2 per cent of total exports.

Continuing, the NBS said: “The value of merchandise exports totalled 3.23 trillion in the first quarter of 2015, an increase of 275.6 billion or 9.3 per cent over the value recorded in the preceding quarter. ”
- See more at: http://www.vanguardngr.com/2015/05/nigeria-earns-n2-8trn-from-petroleum-products-in-3-months/#sthash.gslqHL7H.dpuf

waoooo this is great if we nigerians can be honest and trust worthy to ourselves we can move mountains in this country we are in. God bless nigeria.

What an irony, and yet we borrowed more than 400B to pay salary last month...wat a country

How much of this money is directly accrued to the fg?

Nigeria is not Broke according to NOI, i suspect a cooked up lies about Nigeria, how can my country be broke wth this kind revenue within 3 months

fashoo2010:
What an irony, and yet we borrowed more than 400B to pay salary last month...wat a country

I wonder oooooo.

Ooooh
And they say there isnt enough money in the country?

Buhaaari! Over to you sir!

The truth is coming out.

Where are the monies

Johnnyessence:
waoooo this is great if we nigerians can be honest and trust worthy to ourselves we can move mountains in this country we are in. God bless nigeria.

Don't get ahead of yourself. Nigeria have earned 10 times that amount, but we the masses don't get to feel its positive impact because it ends up in the private accounts of our heartless corrupt old leaders.