{"id":16394,"date":"2025-12-17T05:40:49","date_gmt":"2025-12-17T05:40:49","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=16394"},"modified":"2025-12-17T05:40:49","modified_gmt":"2025-12-17T05:40:49","slug":"europe-india-top-buyers-as-crude-oil-keeps-nigerias-export-engine-running","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/16394\/","title":{"rendered":"Europe, India Top Buyers as Crude Oil Keeps Nigeria\u2019s Export Engine Running"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Nigeria generated approximately \u20a612.81 trillion from crude oil exports in the third quarter of 2025, according to data from the National Bureau of Statistics (NBS). Crude oil accounted for 56.14% of the country\u2019s total exports during this period, underscoring a continued recovery in oil export revenues.<\/p>\n

Although this figure represents a 4.47% decline from the \u20a613.41 trillion recorded in Q3 2024, it marks a 7.03% increase compared to the \u20a611.97 trillion earned in Q2 2025, highlighting the persistent dominance of oil in Nigeria\u2019s foreign exchange earnings.<\/p>\n

Exports of mineral products, primarily crude oil and petroleum gases, totaled \u20a620.01 trillion, making up 87.71% of all exports in Q3 2025. Other oil-related exports amounted to \u20a67.01 trillion, reflecting a sharp 51.72% rise from \u20a64.62 trillion in Q3 2024, though slightly down from \u20a67.74 trillion in the previous quarter.<\/p>\n

Overall merchandise trade climbed to \u20a638.94 trillion in Q3 2025, an 8.71% increase year-on-year and a 2.36% rise from Q2 2025. Exports contributed \u20a622.81 trillion (58.59% of total trade), while imports stood at \u20a616.12 trillion (41.41%). The trade balance remained positive at \u20a66.69 trillion, albeit marginally lower than the prior quarter.<\/p>\n

Key export items beyond crude included natural gas, petroleum gases, and refined products such as kerosene-type jet fuel, which helped cushion weaker results in non-oil sectors, particularly agriculture.<\/p>\n

Europe emerged as Nigeria\u2019s largest regional export market, absorbing \u20a68.71 trillion worth of goods (38.16% of total exports), followed by Asia at \u20a66.40 trillion (28.07%) and Africa at \u20a64.90 trillion (21.49%). On a country-by-country basis, India led as the top destination with \u20a62.26 trillion, followed by Spain, France, the Netherlands, and Italy.<\/p>\n

Trade within Africa was robust, especially with ECOWAS nations, where crude oil exports alone reached \u20a61.32 trillion, comprising 42.14% of exports to the sub-region.<\/p>\n

In contrast, non-oil exports faced challenges. Agricultural exports dropped 11.69% to \u20a6786.62 billion, while manufactured goods exports fell 6.03% to \u20a6978.53 billion, further illustrating Nigeria\u2019s heavy dependence on petroleum revenues.<\/p>\n

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