Nigeria’s exports to France surged to over N3.9 trillion (approximately $2.4 billion) in the first half of 2024, solidifying France’s position as Nigeria’s top export destination among single countries.

This data, published by the National Bureau of Statistics (NBS), highlights Nigeria’s total trade exports of approximately N38.5 trillion ($24 billion) during the same period.

The country maintained a positive trade balance, with exports exceeding imports, which stood at around N26.4 trillion ($16.5 billion).

The announcement coincides with Nigeria’s President Bola Ahmed Tinubu’s recent state visit to France, where discussions centered on fostering mutually beneficial economic partnerships.

France tops Nigeria’s net export list

Nigeria’s trade exports to France in the first half of 2024 reached N3.9 trillion, surpassing the N2.3 trillion recorded for the entirety of 2023. The net export figure, currently at N3.4 trillion, reflects a significant increase in trade activity between both nations.

Key Highlights

In dollar terms, Nigeria’s total exports to France in 2023 were valued at approximately $2.4 billion, assuming an exchange rate of N907/$1. Exports to France in 2024 are expected to exceed this figure as trade relations strengthen.

• A detailed analysis of NBS data reveals that crude oil dominates Nigeria’s exports to France, accounting for about N3.2 trillion in the first half of the year.

• Crude oil exports were valued at N1.8 trillion in Q1 2024 and an additional N1.4 trillion in Q2 2024.

• Other exports to France include natural gas, soybean flour and meals, cut flowers and flower buds, and frozen shrimp and prawns.

• In terms of net exports, Spain ranks second after France, with a total of N3.39 trillion, followed by the Netherlands at N1.7 trillion. While Nigeria has a trade surplus with most of its major trading partners, it records a N4.5 trillion trade deficit with China.

President Tinubu’s visit to France

President Bola Ahmed Tinubu’s recent state visit to France was a milestone in strengthening Nigeria-France relations, with both nations reaffirming their commitment to expanding economic cooperation.

During discussions with French President Emmanuel Macron at the Palais de l’Elysée, President Tinubu emphasized Nigeria’s interest in deepening partnerships in key economic sectors, including:

• Agriculture

• Energy

• Solid minerals

• Blue economy

The Nigerian President highlighted opportunities for foreign direct investment (FDI) in these sectors, positioning Nigeria as a viable investment destination.

The visit underscores a renewed focus on leveraging international partnerships to bolster Nigeria’s economy and improve the welfare of its citizens.

This period of enhanced collaboration between Nigeria and France reflects a strategic alignment of economic goals, with crude oil and other key exports forming the backbone of Nigeria’s contributions to bilateral trade.

Source: https://nairametrics.com/2024/12/01/france-leads-as-nigerias-top-net-export-destination-in-2024/

Those positive Travels don dey pay off........nice one Mr Presido👍👍

God bless president Tinubu.

Nigeria is my fatherland and I just want to see the country grow.

Expect more of this.

Biafrâns are coming to flood this place with their negative energy now

Nigeria will be better if we all put our hands together to make it work

This is the type of report ipob-Biafrans and Biafran-ipob-s hate; news like this used to pain them to their marrows. They will say other Africa countries are ending ties in some instances with France, therefore; they want Nigeria to cut ties with France too. Biafra country will be the worst in local and international relations with divers countries because little things, they will see countries they don't like as saboteurs and cut ties immediately. They will have plenty saboteurs inside and outside. Very good Tinubu, keep building good relations with divers countries, don't allow those that are not contributing enough to Nigeria economy to dictate to you

Before anybody come for me, I know say na "Ipob" I be o o.

Please can anyone tell me what products and or Services we are exporting? I know of Crude oil.

Good one. More exports supported

Good

helinues:
Good

Good too ok.

Tinubu supporters are stupid and they behave as if they are his SLAVES.


🤣🤣🤣🤣🤣🤣🤣

sreamsense:
This is the type of report ipob-Biafrans and Biafran-ipob-s hate; news like this used to pain them to their marrows. They will say other Africa countries are ending ties in some instances with France, therefore; they want Nigeria to cut ties with France too. Biafra country will be the worst in local and international relations with divers countries because little things, they will see countries they don't like as saboteurs and cut ties immediately. They will have plenty saboteurs inside and outside. Very good Tinubu, keep building good relations with divers countries, don't allow those that are not contributing enough to Nigeria economy to dictate to you

Obviously you are cursed for no reason.

France is way to go now 👀💕🌑

akoi na wetin

Great100000:


Source: https://nairametrics.com/2024/12/01/france-leads-as-nigerias-top-net-export-destination-in-2024/

9ja be careful with FRENCH nation oo e be like JUDE OKOYE handling Business for u oo

My thoughts on the naira zino case again,.. another moh loading?👀🌑

Looting of state treasury to France has started since other little African countries have woken up France has now turned to the available substitute Nigeria. Tinubulation the renown criminal and looter of Lagos treasury is still at work willing to loot Nigeria to stupor.

Agenda to sell that visit??

Rubbish. Do you mean exporting sick president to France every two months?

The president, the presidency, Tinubu is working

9ja go better

This one is stvpid. This is exactly how they argue when you see them face to face...the answers to the question he asked were stated in the lines up there and he's here asking JAMB question.

They can read on their own, the person that used to read for them is in far away Finland prison.

psucc:
Before anybody come for me, I know say na "Ipob" I be o o.

Please can anyone tell me what products and or Services we are exporting? I know of Crude oil.

We need to ramp up non oil exports if we truly want to boost our economy and put a stop to this naira-dollar volatility

What African nation has ever benefited from any kind of association with France?? They were also the top net export destination for many African nations too and those countries were poorer for it! As a leading member nation of the Pan-African movement, it’s foolish celebrating ambiguous agreements with a country that other African nations are celebrating cutting off ties with. You’d have to be very desperate for a win to believe a relationship with that nation will be any diff from relationships they have had with other African nations.

lordm:
Nigeria will be better if we all put our hands together to make it work

For some, the moment their candidate lose election, they become enemy of the country. Wishing ,hoping and deciding to see only negative things about the country. It's like witchcraft.

MondayOmoAdugbo:
France is way to go now 👀💕🌑

you mean japa destination..

psucc:
Before anybody come for me, I know say na "Ipob" I be o o.

Please can anyone tell me what products and or Services we are exporting? I know of Crude oil.

Read marrafaka, read.

Vuvuzela2:
Rubbish. Do you mean exporting sick president to France every two months?

Yes. It has made France our biggest trade partner.

So because Tinubu is visiting France frequently, it has become the top net exports destination? Propaganda is evil

Initial gragra...macron na just tinubu's Cana plug.

Waqes900:
So because Tinubu is visiting France frequently, it has become the top net exports destination? Propaganda is evil

Nnaa ehn 😅

DeeScan:



you mean japa destination..

I mean,..👀 right??

deji17:

For some, the moment their candidate lose election, they become enemy of the country. Wishing ,hoping and deciding to see only negative things about the country. It's like witchcraft.

Then prove them wrong ....but instead u guys prove them right ... reason I always say people like u have a mental defect...its no insult ..its actually a fact....cos no one that has a well functioning brain should be reasoning like u do

The report is misleading because exports for 2023 is the same for 2024 in dollars terms. The difference is the exchange rate which has increased the naira value.

Okete001:
God bless president Tinubu.

Nigeria is my fatherland and I just want to see the country grow.

Expect more of this.

Biafrâns are coming to flood this place with their negative energy now