Nigeria realises N749bn from gas exports in three months — NBS

Adebayo Obajemu

The National Bureau of Statistics ( NBS) has  revealed that Nigeria realised about N749.646 billion from the export of liquefied natural gas (LNG) and other petroleum gas products in the first quarter of 2022.

In its Foreign Trade Statistics for the First Quarter of 2022, the NBS stated that Nigeria’s gas export earnings in the quarter under review appreciated by 15.87 per cent and 46.23 per cent when compared to the N646.993 billion and N512.663 billion earned from the export of the same commodities in the fourth quarter and first quarter of 2021, respectively.

The breakdown of gas exports, in the first quarter of 2022, according to NBS, the country earned N655.943 billion and N93.703 billion from the export of natural gas and other petroleum gases, respectively.

The data agency stated that natural gas was the second most exported commodity in the first quarter of 2022, making for 9.24 per cent of Nigeria’s total export in the period; while other petroleum gases ranked as the fourth most exported commodity, accounting for 1.32 per cent of Nigeria’s total export.

In comparison, in the fourth quarter of 2021, liquefied natural gas export fetched the country N573.846 billion, while the value of other petroleum gases export stood at N73.147 billion; ranking second and fifth most exported commodity, and accounting for 9.95 per cent and 1.27 per cent of total exports, respectively, in the period.