Ike Amos
27 September 2018, Sweetcrude, Lagos — Nigeria earned N498.795 billion from the export of Liquefied Natural Gas, LNG, Liquefied Petroleum Gas, LPG, and other gaseous products in the second quarter of 2018.
The National Bureau of Statistics (NBS) in its Second Quarter 2018 Foreign Trade Statistics, however, disclosed that export earnings from gaseous products in the second quarter of 2018, represented a decline of 7.5per cent compared with N539.252 billion earned from the export of the commodities in the first quarter of 2018.
According to the report, Liquefied Natural Gas export topped, with N433.038 billion in the second quarter of 2018, compared to N482.54 billion in the first quarter of 2018, while other petroleum gases export also dropped to N29.176 billion, from N30.75 billion recorded in the first quarter.
Liquefied propane and liquefied butane export stood at N15.606 billion and N12.145 billion respectively in the second quarter of 2018, compared to N8.85 billion and N12.304 billion recorded in the first quarter.
In addition, the report noted that Nigeria earned N8.83 billion from the export of LPG, also known as cooking gas, in the quarter under review, rising by 83.6 percent from N4.81 billion recorded in the first quarter of 2018.
In addition, the report noted that Nigeria exported crude oil valued at N3.729 trillion in the second quarter of 2018, rising by 4.2 percent from N3.58 trillion recorded in the first quarter.
The report further stated that crude oil export in the second quarter of 2018 appreciated by 53.77 percent compared to N2.425 trillion recorded in the same period in 2017.
The report explained that in the second quarter of 2018%