Nigeria exports N58.65b electricity in Q1 2024 Electricity to Togo, Niger and Republic of Benin

Nigeria exports N58.65b electricity in Q1 2024 Electricity to Togo, Niger and Republic of Benin

Nigeria exports N58.65b electricity in Q1 2024 Electricity to Togo, Niger and Republic of Benin

In the First Quarter 2024 Q1, Nigeria exported N58.65 billion electrical energy to African countries.

The National Bureau of Statistics (NBS) made this known in its document titled: “Foreign Trade in Goods Statistics (Q1 2024).” A section of the report on “Analysis of Nigeria’s Trade with African Countries Q1 2024,” said the electrical energy constituted 2.62% of the goods the continent imported from Nigeria. The countries which import electricity from Nigeria are Republic of Benin; Niger, and Togo.

NBS said Nigeria’s imports from African countries in the first quarter of 2024 consisted mainly of Kerosine type jet fuel (N31.00 billion (7.72%), petroleum bitumen (N30.45 billion (7.58%), diammonium hydrogen orthophosphate (diammonium phosphate), and (N27.64 billion (6.88%).

The report added that other liquefied petroleum gases and other gaseous hydrocarbons accounted for (N26.61billion (6.62%) and Polypropylene (N18.30 billion (4.55%) of total import from African countries.

The document said in the same vein, the major importing partners are South Africa with goods valued at N97.33billion and Ivory Coast with N51.41 billion other importing countries are Togo with N40.86 billion, Egypt with N40.23 billion and Morocco with N30.07 billion.

Nigeria, according to NBS, imported goods mainly from Asia, valued at N5,957.99 billion representing 47.12% of total imports. It added this was followed by imports from Europe with N4,669.86 billion or 36.94%, America with N1,554.69 billion or 12.30%, Africa with N401.83 billion or 3.18% and Oceania with N58.86 billion or 0.47% in the first quarter of 2024.

The report further said imports from ECOWAS countries amounted to N113.04 billion or 0.89% of total imports. Analysis by trading partners revealed that imports originated mainly from China and were valued at N2,930.10 billion, representing 23.18% of total imports.