According to the Nigerian Bureau of Statistics (NBS) Foreign Trade in Goods Statistics report, approximately 99.1% of Nigeria’s exported goods were transported via maritime channels in the second quarter of 2024 (Q2’24). The total value of these goods was N19.25 trillion.
TRANSPORTATION MODE BREAKDOWN
- Maritime Transport: Dominated with N19.25 trillion, representing 99.1% of total exports.
- Air Transport: Contributed N73.72 billion, or 0.38%.
- Road Transport: Accounted for N30.72 billion, or 0.16%.
- Others: Recorded N63.28 billion, or 0.33%.
For imports:
- Maritime Transport: Handled N11.8 trillion, or 94.94%.
- Air Transport: Managed goods valued at N531.38 billion, or 4.66%.
- Road Transport: Covered N49.97 billion, or 0.40%.
CUSTOMS PORTS TRADE ANALYSIS
In Q1 2024, Apapa Port was the main hub for export trade, handling goods valued at N18.1 billion, or 93.4% of total exports. Tin Can Island Port followed with N791.2 billion, or 4.07%.
For imports, Apapa Port recorded the highest transaction value at N7.6 trillion, or 61% of total imports, with Tin Can Island Port at N1.4 trillion (11.43%), and Port-Harcourt (Onne) at N1.01 trillion (8.10%).
TRADE WITH ECOWAS COUNTRIES
Exports to ECOWAS countries in Q2’24 totaled N1.7 trillion, while imports amounted to N166.4 billion.