Nigeria exports N75.66b worth of electricity – NBS
Nigeria exported N75.66 billion worth of electricity to African countries in the fourth quarter of 2024 (Q4 2024).
The National Bureau of Statistics (NBS) made this known in a report titled: “Foreign Trade Statistics Report (Q4 2024).”
Togo, Benin Republic and Republic of Niger are the benefitting countries that Nigeria exports electricity to.
The report also added that in the period under review, Nigeria exported bituminous minerals worth N1.62 trillion.
According to the NBS, “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% of total exports to Africa, Electrical energy with N75.66 billion or 3.71, Dredgers with N73.99 billion or 3.62%, Urea, whether or not in aqueous solution N40.34 billion or 1.98%, and Cigarettes containing tobacco with N32.50 billion or 1.59%.
The top five products accounted for 90.66% 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 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% of exports to Africa.
On the other hand, NBS said 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%, Other Vehicles for goods transport, petrol fuel, engine 5tonne, excl. dumpers, CKD with N32.89 billion or 6.39%, Butanes with N28.42 billion or 5.52%, Mixtures of odoriferous substances of a kind used in the food or drink industries N28.41 billion or 5.52%, and Crude palm oil with N18.13 billion or 3.52% of total imports from African countries.
NBS further stated that Nigeria’s imports from ECOWAS countries were mainly Crude palm oil valued at N10.13 billion or 22.39%, Petroleum bitumen valued at N14.38 billion or 17.76%, Cocoa powder, containing added sugar or other sweetening matter worth N8.13 billion or 10.04%, Beauty or makeup preparations valued at N4.93 billion or 6.09%, and other Liquefied petroleum gases and other gaseous hydrocarbons worth N4.01 billion or 4.95% of total export from ECOWAS region.
