The change we are waiting is here now, as Nigeria earned N2.512 trillion from the export of petroleum
products in three months, between April and June 2015, according to data
released Wednesday, by the National Bureau of Statistics, NBS and this has happen for the first time in 6years.
The source told NBS, in its Foreign Trade Statistics for the Second
Quarter of 2015, also stated that Nigeria recorded total merchandise trade of
N4.372 trillion and a trade surplus of N1.4 trillion in the period.
It is instructive to noted that the amount the country
earned from petroleum products sale in the second quarter of 2015, was 56.8 per
cent of the country’s N4.49 trillion 2015 budget...
Also the amount earned from the export of petroleum products
accounted for 57.5 per cent of Nigeria’s total merchandise trade and 87.3 per
cent of total export.
In its classification of petroleum products export in the
period under review, the NBS data revealed that the country exported petroleum
oils and oils obtained from bituminous minerals and crude oil valued at N2.121
trillion; liquefied natural gas valued at N260.7 billion, while liquefied
petroleum gas and other gaseous hydrocarbons valued at N66.41 billion was also
exported.
Others are: liquefied propane — N43.88 billion, partially
refined oil including crude oil having gone primary refinement —N13.577 billion
and liquefied butanes — N6.15 billion.
Specifically, giving a breakdown of Nigeria’s merchandise
trade, the NBS stated that Nigeria’s total export stood at N2.879 trillion,
while total import stood at N1.49 trillion, thereby, leading to a trade surplus
of N1.39 trillion.
Immediately after Muhammadu Buhari defeated Goodluck
Jonathan in the presidential election, many of those whose sole business is to
be stealing crude oil and other resources belonging to Nigeria started
struggling to cover what they had stolen before and didn't have the time to
steal more. In fact, at it stands today, most of them have been dislodge and
are currently on the run from prosecution.
