Nigeria’s earnings from crude oil export rise by 50.2% to N15.4 trillion in Q1 2024

The value of Nigeria’s crude oil export earnings increased by 50.2% in the first quarter of 2024 to $10.4 billion, according to data from the Nigeria Bureau of Statistics (NBS).

The earnings quoted in naira showed a rise from $6.9 billion in the fourth quarter of 2023 to $10.4 billion in Q1 2024.

During the same period, the data highlighted that 88% of Nigeria’s exports to other nations were earnings from crude oil, emphasizing once again the predominant role of oil as the primary exported commodity and main source of foreign exchange for the country.

Read more at Nairametrics

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