Between April and June 2023, Nigeria exported some 5.6 trillion Nigerian naira (NGN) of crude oil, roughly seven billion U.S. dollars. Europe and Asia are Nigeria's main trade partners for crude oil exports. In the fourth quarter of 2023, crude oil exported to Europe amounted to about 2.64 trillion NGN, while exports to Asia followed with around 1.2 trillion NGN. Overall, the exports of crude oil experienced an increase in the said period. Oil exports represent Nigeria's main source of exports. Generally, the country's economy was significantly impacted by the COVID-19 pandemic.
Export value of crude oil from Nigeria from 1st quarter of 2020 to 2nd quarter 2023, by destination region
(in million Nigerian naira)
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NBS (Nigeria). (September 2, 2023). Export value of crude oil from Nigeria from 1st quarter of 2020 to 2nd quarter 2023, by destination region (in million Nigerian naira) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1166636/export-value-of-crude-oil-from-nigeria-by-region/
NBS (Nigeria). "Export value of crude oil from Nigeria from 1st quarter of 2020 to 2nd quarter 2023, by destination region (in million Nigerian naira)." Chart. September 2, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1166636/export-value-of-crude-oil-from-nigeria-by-region/
NBS (Nigeria). (2023). Export value of crude oil from Nigeria from 1st quarter of 2020 to 2nd quarter 2023, by destination region (in million Nigerian naira). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1166636/export-value-of-crude-oil-from-nigeria-by-region/
NBS (Nigeria). "Export Value of Crude Oil from Nigeria from 1st Quarter of 2020 to 2nd Quarter 2023, by Destination Region (in Million Nigerian Naira)." Statista, Statista Inc., 2 Sep 2023, https://www.statista.com/statistics/1166636/export-value-of-crude-oil-from-nigeria-by-region/
NBS (Nigeria), Export value of crude oil from Nigeria from 1st quarter of 2020 to 2nd quarter 2023, by destination region (in million Nigerian naira) Statista, https://www.statista.com/statistics/1166636/export-value-of-crude-oil-from-nigeria-by-region/ (last visited December 22, 2024)
Export value of crude oil from Nigeria from 1st quarter of 2020 to 2nd quarter 2023, by destination region (in million Nigerian naira) [Graph], NBS (Nigeria), September 2, 2023. [Online]. Available: https://www.statista.com/statistics/1166636/export-value-of-crude-oil-from-nigeria-by-region/
