India, Netherlands, US spent N1.7tn on Nigerian oil in Q1 – NBS

India, Netherlands, and the United States of America emerged the highest importers of Nigerian crude oil grades, having spent N1.71tn in the first quarter of 2018.

According to data from the National Bureau of Statistics on foreign trade statistics for the first quarter of 2018, the amount spent by the three countries on the importation of crude oil from Nigeria accounted for 48 percent of the country’s total crude oil export valued N3.58tn.

Other top buyers of Nigeria’s crude oil in the first quarter of 2018 were Spain, France, South Africa and Sweden – buying N318.14bn, N235.24bn, N196.25bn and N195.34bn of Nigeria’s crude oil, respectively, while the United Kingdom, Indonesia and Italy spent N143.19bn, N133.24bn and N102.36bn on the commodity from the country, respectively.