India Was Nigeria’s Biggest Trading Partner In 2018
India conducted the highest number of trades with Nigeria between July and September 2018.
According to the National Bureau of Statistics, NBS, India imported 719.2-billion-naira worth of crude and 37.7-billion-naira worth of natural gas exports from Nigeria within the period. It also bought cashew nuts worth 4.7 billion naira.
The NBS figures also showed that, within the period, Nigeria imported motorcycles and tricycles worth 29.2 billion naira from the Asian country.
Other imports were medicines such as antibiotics to the value of 7 billion-naira, agricultural machines worth 3.6bn, dried vegetables valued at 3.6 billion naira and treated mosquito nets worth 3.4 billion naira.
The NBS also listed Spain, France, Netherlands and China as Nigeria’s major trading partners in the report titled ‘Commodity Price Index and Terms of Trade for third quarter, 2018.’
Spain was the second biggest buyer of Nigeria’s crude after India. The European country bought crude worth 463 billion naira and liquified natural gas valued at 52.7 billion naira.
Nigeria also shipped leather valued at 4.3 billion naira and cocoa paste worth 300 million naira to the country.
In return, Nigeria imported petrol or premium motor spirit valued at 25.7 billion naira, bitumen for 3.7 billion and petrochemical products worth 3.4 billion naira.
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