Urea has replaced naphthalene as Nigeria’s biggest non-oil export product in the third quarter of 2017, according to data released to BusinessDay by the Nigerian Export Promotion Council (NEPC).
Urea’s share was 8.82 percent of the total non-oil export in Q3.
Urea was exported by Indorama-Eleme Fertiliser & Chemicals Limited within the period.
Naphthalene, a chemical product obtained from petroleum distillation, topped Nigeria’s non-oil export products chart in the second quarter of 2017.
Nigeria’s non-oil export from January to September of 2017 rose to $1.259 billion from $812.67 million recorded in the corresponding period of 2016.
This represents 54.96 per cent rise, data from the Nigerian Export Promotion Council (NEPC) show.
In the third quarter of 2017, non-oil export of Africa’s most populous country stood at $370.707 million, representing an increase of 68.57 percent when compared with $219.908 million recorded in the same period of 2016.
As in the second quarter of 2017, the Nigerian National Petroleum Corporation (NNPC) and the Pipelines and Product Marketing Company (PPMC) exported naphthalene and Low Pour Fuel Oil (LPFO) within the period.
However, naphthalene was the second biggest non-oil export product within the period, with a share of 8.78 percent of the total.
The third biggest non-oil export product was Low Pour Fuel Oil, exported by the NNPC/PPMC. LPFO had a share of 7.82 percent of the total.
Cigarettes, exported by British-America Tobacco Company Limited, was next, with a share of 7.72 percent of the total.
Cocoa Beans exported by Olam Nigeria, was fifth with a share of 6.05 percent of the total.
