By Francis Ogwo
Nigeria’s commodity exports to China, India, Spain, Netherlands and South Africa in the first quarter of 2020 has hit N1.87trn.
This is according to a release by the National Bureau of Statistics in its Commodity Price Indices Terms of Trade report released on Thursday.
It disclosed that petroleum products stood out as the most exported commodities in the first quarter of the year.
Nigeria received its major import into the country from India during the period in review, with a monetary value of N637.5bn.
Crude Oil dominated the export trade to India and was valued at N526.9bn, followed by natural gas worth N91.3bn, and sesame seeds of N7.97bn.
During the period, total exports from Nigeria to Spain was N402.9bn, with crude oil accounting for N360.44bn(89.46%).
Natural gas exported to the country was put at N31.97bn, while partially refined oil worth N5.29bn, accounted for the export balance.
The report further disclosed that the value of exports from Nigeria to the Netherlands was N396.93bn, while the country’s exports to South Africa was valued at N319.47bn.
