2024: Nigeria exports N58.65b in electricity to Togo, others

Nigeria in the first quarter of 2024, exported electrical energy worth N58.65 billion to various African countries.

This was revealed by the National Bureau of Statistics (NBS) in their report titled “Foreign Trade in Goods Statistics (Q1 2024).”

The report, specifically the section “Analysis of Nigeria’s Trade with African Countries Q1 2024,” highlighted that electrical energy constituted 2.62% of the total goods exported from Nigeria to the continent. The primary recipients of Nigeria’s electricity exports are the Republic of Benin, Niger, and Togo.

In terms of imports, Nigeria received goods from African countries primarily consisting of kerosene-type jet fuel (N31.00 billion or 7.72%), petroleum bitumen (N30.45 billion or 7.58%), diammonium hydrogen orthophosphate (N27.64 billion or 6.88%), other liquefied petroleum gases and other gaseous hydrocarbons (N26.61 billion or 6.62%), and polypropylene (N18.30 billion or 4.55%).

The major African countries importing goods from Nigeria included South Africa (N97.33 billion), Ivory Coast (N51.41 billion), Togo (N40.86 billion), Egypt (N40.23 billion), and Morocco (N30.07 billion).

Overall, Nigeria imported goods mainly from Asia, totaling N5,957.99 billion or 47.12% of total imports. This was followed by imports from Europe (N4,669.86 billion or 36.94%), America (N1,554.69 billion or 12.30%), Africa (N401.83 billion or 3.18%), and Oceania (N58.86 billion or 0.47%) in the first quarter of 2024. Imports from ECOWAS countries amounted to N113.04 billion or 0.89% of total imports.

The report also noted that China was Nigeria’s primary trading partner, with imports valued at N2,930.10 billion, representing 23.18% of total imports.