‘Nigeria exports N4.5tn crude oil to US annually

petroleum minister

The United States Consular General, Lagos, Mr. Joseph Stafford, has put the value of crude oil

The United States Consular General, Lagos, Mr. Joseph Stafford, has put the value of crude oil exported to his country annually by Nigeria at $30bn (N4.5tn).

He said the figure was in excess of the $5bn (N750bn) services, which the US exported to Nigeria annually, with the trade balance of $25bn in favour of Nigeria.

Stafford said this in Lagos on Tuesday during the unveiling of Sponge-Jet, a low dust abrasive blasting technology by Tricontinental Technologies.

The consular general described Nigeria’s performance in terms of growth and development parameters as impressive, adding that the American government was committed to facilitating innovativeness in various sectors of the economy, hence its involvement in the Sponge-Jet project.

Tricontinental is presently executing contracts for Shell, Chevron and Addax, among other actors in the Nigerian oil and gas sector.

The Sponge-Jet technology offers solutions for industries and applications such as marine and offshore coating application; lead abatement; oil, gas and chemical processing; petrol chemicals; power generation; surface preparation for painting; coating removal; construction; plant maintenance and general repairs.

 “We are optimistic. There are many opportunities in this market. We will continue to promote more business partnerships between Nigeria and the US,” Stafford added.

Also speaking at the event, the Managing Director, Tricontinental Group, Prof. Toyin Ashiru, said the Sponge-Jet technology was developed to save time, labour and money by accelerating abrasive blasting and painting operations.

He said the technology was meant to protect the environment by suppressing fugitive emissions and rebound that could lead to costly interruptions and dangerous workplace conditions.