Crash in crude oil export has decreased Nigeria’s earnings from trade export down by 9.7 per cent in the third quarter of 2022, with Spain leading as top export destination.
According to the National Bureau of Statistics (NBS) in its latest foreign trade report on Monday, Nigeria generated N11.59 trillion from foreign trade in Q3 this year.
The amount is lower than the N12.84 trillion recorded in Q2 2022 due to drop in crude oil export, which fell by 21.2 per cent quarter-on-quarter to N4.66 trillion in Q3 2022 from N5.91 trillion recorded in the second quarter.
