According to data from the National Bureau of Statistic’s Foreign Trade Statistics, the total spent by the three countries on BLCO importation accounted for 48 percent of Nigeria’s total crude oil export in the first quarter of 2018.
The total value of the first quarter stood at 3.58 trillion naira.
India especially remained the highest buyer of Nigeria’s crude oil in the first quarter with purchases worth 776.06 billion naira, representing 21.7 percent of Nigeria’s total crude export.
The Netherlands and the United States followed with purchase of 567.84 billion naira and 368.27 billion naira respectively, accounting for 15.86 percent and 10.29 percent of Nigeria’s total crude export in the first quarter respectively.
Other top importers of Nigeria crude for the period under review include Spain, France, South Africa and Sweden buying 318.14 billion naira, 235.24 billion naira, 196.25 billion naira and 195.34-billion-naira worth of crude oil respectively.
The report further noted that Nigeria exports other mineral products together with crude oil worth 4.14 trillion naira, accounting for 88.2 percent of the nation’s total export in the period under review.
