NBS Crude oil sales rise by 46 percent
Written by Joey Shekwonuzhibo on March 10, 2023
Nigeria’s crude oil sales has risen by 46.41 per cent to push Nigeria’s total export to N26.79tn in 2022.
This is as total trade rose by 31.79 per cent from N39.75tn in 2021 to N52.39tn in 2022. In 2022, crude oil sales totalled N21.09tn, a 46.41 per cent increase from N14.41tn in 2021. In 2022, crude oil accounted for 78.74 per cent of total export.
According to data from the National Bureau of Statistics, total exports for 2022 rose by 41.72 per cent from N18.91tn in 2021 to N26.79tn as of 2022. Imports rose by 22.77 per cent from N20.84tn in 2021 to N25.59tn in 2022.
In 2022, Nigeria spent N2.63tn importing food and live animal; N10.12tn importing petroleum and other mineral fuel; N1.93tn on manufactured goods; and N5.93tn on machinery and transport equipment.