Michael Eboh
Dublin, Ireland — Nigeria earned N3.879 trillion from the export of natural gas, Liquefied Petroleum Gas (LPG) and other gas products, in the first quarter of 2025, rising by 108.31 per cent from N1.862 trillion earned from the export of the same commodities in the first quarter (Q1) of 2024, according to data released by the National Bureau of Statistics (NBS).
In its Foreign Trade in Goods Statistics for the first quarter of 2025, the NBS noted that the amount earned from gas exports in the first quarter of 2025 was also 16.51 per cent higher than the N3.329 trillion recorded in the fourth quarter (Q4) of 2024.
Giving a breakdown of the gas exported in the first quarter of 2025, the NBS disclosed that the country earned N1.932 trillion from natural gas exports, while revenue from the export of ‘other petroleum gases’ and liquefied petroleum gas stood at N1.78 trillion and N165.817 billion, respectively.
In comparison, in the first quarter of 2024, the statistics agency reported that N1.677 trillion and N185.045 billion were earned from the export of natural gas and other petroleum gases; while in the fourth quarter of 2024, the export of natural gas, other petroleum gas and liquefied petroleum gas (LPG) fetched the country N1.943 trillion, N1.117 trillion and N269.074 billion, respectively, in revenue.
Specifically, it noted that a large portion of Nigeria’s ‘other petroleum gases’, totalling NN1.022 trillion, was exported to India, while the country also purchased natural gas valued at N151.54 billion from Nigeria.
Nigeria, according to the NBS, also exported other petroleum gases valued at N149.2 trillion and N95.969 billion to The Netherlands and the United States of America, respectively; while natural gas export to France fetched the country N137.152 billion.
In addition, natural gas and other petroleum gases’ exports to Spain from Nigeria stood at N258.353 billion and N124.906 billion respectively.
The NBS further revealed that the country earned N315.242 billion from the export of Aviation Turbine Kerosene (ATK) in the first quarter of 2025; N109.557 billion was earned from the export of other light oils and preparation; while revenue from light fuel oil stood at N66.317 billion.
In general, the NBS stated that: “Nigeria’s total merchandise trade stood at N36.025 trillion in first quarter 2025. This represents an increase of 6.19 per cent compared to the value of N33.926 trillion recorded in the corresponding period of 2024 and decreased by 1.58 per cent compared to N36.605 trillion recorded in the preceding quarter.
“In the quarter under review, exports accounted for 57.18 per cent of total trade with a value of N20.598 trillion, showing an increase of 7.42 per cent over the value recorded in the corresponding quarter of 2024 (N19.176 trillion) and by 2.92 per cent compared to the value recorded in the fourth quarter of 2024 (₦20.014 trillion).
“On the other hand, imports accounted for 42.82 per cent of total trade in the first quarter of 2025, with a value of N15.426 trillion representing a 4.59 per cent increase compared to N14.749 trillion recorded in first quarter 2024, and a 7.02 per cent decrease from N16.591 trillion recorded in fourth quarter 2024.”
The NBS explained that the country’s merchandise trade balance for first quarter 2025 remained positive at N5.172 trillion, indicating an increase of 51.07 per cent compared to the value recorded in the preceding quarter.
