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Nigeria has long been Africas largest market owing to some economic factors including its exports. The country currently stands as the continent’s largest economy and has done so on the heels of its extensive human and natural resources.
The NBS’s report highlights that “The value of total exports in Q3, 2023 stood at ₦10,346.60 billion indicating an increase of 60.78% when compared with the value of exports in Q2, 2023 (₦6,435.13 billion) and by 74.36% when compared with the value recorded in the third quarter of 2022 (₦5,934.15 billion).”
With that said, below are the 5 products Nigeria exported the most in Q3 of 2023.
5 of Nigeria’s largest exports by quantity
| Rank | Product | % of export | Revenue |
|---|---|---|---|
|
1. |
Petroleum oil and oils obtained from bituminous minerals, crude |
82.50% |
N8,535.61 billion |
|
2. |
Natural gas |
9.82% |
N1,016.45 billion |
|
3. |
Urea |
1.06% |
N109.68 billion |
|
4. |
Other petroleum gases |
0.90% |
N92.95 billion |
|
5. |
Superior quality cocoa beans |
0.41% |
N42.24 billion |
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