The National Bureau of Statistics (NBS) in data released stated that the Nigerian government has earned about N2.512 trillion from the exportation of petroleum products, between April and June 2015. Sweet crude reports.

NBS, in its Foreign Trade Statistics for the Q2 of 2015, also stated that the country documented a total merchandise trade worth of N4.372 trillion and a trade surplus of N1.4 trillion in the past three months.

While giving an analysis of the merchandise trade, NBS stated that Nigeria’s total export stood at N2.879 trillion, while total import stood at N1.49 trillion, thus, leading to a trade surplus of N1.39 trillion.

Furthermore, the report detailed that at N2.879 trillion, Nigeria’s total export appreciated by 8.0 % or N214.1 billion when compared with the value of exports in Q1 of 2015, while it represented a decline of N1.8 trillion or 38.5% when compared with total exports of N4.682 trillion recorded in Q2 of 2014.

The amount the country earned from petroleum products sale in Q2 of 2015, was 56.8 % of the country’s N4.49 trillion 2015 budget as well as the amount earned from the export of petroleum products accounted for 57.5 % of Nigeria’s total merchandise trade and 87.3 % of total export.

The NBS data conclusively, shows that the country exported petroleum oils and oils obtained from bituminous minerals and crude oil which is valued at N2.121 trillion; liquefied natural gas valued at N260.7 billion, while liquefied petroleum gas and other gaseous hydrocarbons valued at N66.41 billion were also exported.

The rest are: liquefied propane valued at N43.88 billion, partially refined oil including crude oil having gone primary refinement valued at N13.577 billion and last but not the least liquefied butanes which is valued at N6.15 billion.