Nigeria earned N429.563 billion from gas exports in the fourth quarter of 2020, according to data obtained from the National Bureau of Statistics (NBS).

This, the NBS noted, was 26.14 per cent higher than the N340.553 billion recorded in the export of gas in the third quarter of 2020.

In its Foreign Trade in Goods Statistics for the Fourth Quarter of 2020, the NBS stated that the total gas exports, which appeared among the top 15 exports of the country, accounted for 13.45 per cent of Nigeria’s total exports of N3.195 trillion recorded in the period under review.

The NBS noted that Nigeria earned N370.883 billion from the export of Liquefied Natural Gas, representing 11.61 per cent of the country’s total export and the second biggest export in the period.

Other petroleum gases export, according to the NBS, stood at N48.59 billion, accounting for 1.52 per cent of the country’s total export value, and ranked fourth on the list of imports.

Liquefied propane export trailed with N10.09 billion in in the quarter under review, representing 0.32 per cent of the country’s total export and ranked as the eighth biggest import in the fourth quarter.

It noted that crude oil remained the country’s number one export, accounting for 78.93 per cent of total export in the fourth quarter of 2020, with N2.521 trillion.

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Source: SweetCrudeReports