SALES OF CRUDE OIL INCREASED BY 46.41% to N21 TRILLION - NBS

Fuel Pump

According to the most recent National Bureau of Statistics Fourth Quarter 2022 data, Nigeria's total crude oil sales climbed by 46.41 percent to N21.09 trillion in 2022 from N14.41 trillion in 2021.

The information caused Nigeria's overall commerce to increase by 31.79%, from N39.75 trillion in 2021 to N52.39 trillion in 2022; crude oil accounted for 78.74% of the entire export in this case.

In 2022, total exports increased by 41.72 percent, from N18.91 trillion in 2021 to N26.79 trillion in 2022. In 2022, imports increased by 22.77% from N20.84 trillion in 2021 to N25.59 trillion.

According to NBS data, Nigeria's top five export destinations are Spain, Netherlands, India, France, and Indonesia.

On the other side, the top five exporters to Nigeria were China, Belgium, India, the Netherlands, and the United States, with a combined value of N2.99 trillion.