With N5.16trn, Apapa Port Retains Position As Preferred Trade Route For Exporters

Between October 1 and December 31 last year, commodities worth N5.16trn were exported through the Apapa Port in Lagos, figures obtained from the National Bureau of Statistics has revealed.

An analysis of the foreign trade statistics showed that the N5.16trn worth of exported commodities through Apapa Port, was 89.54 per cent of the total exports recorded by the country in the fourth quarter of last year.

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This was followed by the Port Harcourt port, with total export value of N398.14bn, or 4.6 per cent of the entire commodities exported from the country during the period.

Further analysis showed that the Tin Can Port recorded a total export value of N125.64bn during the three-month period.

The Sokoto Area Command recorded a total export value of N13.92bn, the Murtala Muhammed Airport N13.12bn, while Seme Border, Calabar Port, Jigawa Area Command recorded export values of N5.05bn, N2.09bn, and N1.75bn respectively.

In terms of imported goods, the Report stated that Apapa Port also recorded the highest transactions valued at N3.53trn or 59.56 per cent of total imports.

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This was followed by Tin Can Island which accounted for goods valued at N774.18bn or 13.03 per cent while Port-Harcourt handled N457.07bn 7.69 per cent of total imports

In terms of exports, the Report explained that Nigeria’s export trade was mainly dominated by crude oil which amounted to N4.26trn, representing 74.04 per cent of total exports during the fourth quarter of 2021.

This was followed by Natural gas, liquefied with N573.85bn (9.95 per cent), floating or submersible drilling platforms with N265.33bn (4.60 per cent) and Urea with N208.05bn (3.61 per cent).

On the other hand, major products imported were motor spirit, valued at N1.44trn (24.31 per cent), followed by Durum wheat, valued at N397.19bn (6.69 per cent), and Rolled iron/steal, others with N88.23bn (1.49 per cent).

The top five major trading partners in exports during the fourth quarter of last year were India with ₦874.86bn (15.17 percent), Spain with ₦789.23bn (13.69 per cent), France with ₦485.35bn (8.42 per cent), Netherlands with ₦425.85bn (7.38 per cent), and Indonesia with ₦288.1bn (5 per cent).

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Similarly, the top import trading partners during the period under review were China with ₦1.65trn (27.82 per cent), Belgium with ₦613.28bn (10.32 per cent), India with ₦430.38bn (7.24 per cent), The Netherlands with ₦416.52bn (7.01 per cent) and the United States of America with ₦340.36bn (5.73 per cent).

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