Nigeria’s petrol importation rises by 21%

The National Bureau of Statistics (NBS) on Thursday said the volume of premium motor spirit (PMS), popularly known as petrol, importation has been reversed with a 21.7 percent rise in the fourth quarter of 2018 (Q4’18) to 5.32 billion litres up from 4.37 billion recorded in Q3’18.

NBS in its report titled: “Petroleum Products Imports and Consumption (Truck Out) Statistics (Q4 2018)” said Nigeria imported 5.32 billion litres of PMS and 1.30 billion litres of automotive gas oil (AGO), or diesel in Q4’18.

It also stated that, 114.19 million litres of dual purpose kerosene (DPK), 267.80 million litres of aviation turbine kerosene (ATK), 50.73 million litres of base oil, 42.38 million litres of bitumen, 10.63 million litres of low pour fuel oil (LPFO) and 331.78 million litres of Liquefied Petroleum Gas (LPG) were imported into the country in Q4’18.

This followed an earlier decline in the volume to 4.79 billion litres in Q2’18 from 5.67 billion litres in Q1’18 while it further declined to 4.37 billion litres in the period under review.

The report further showed State-wide distribution of truck-out volume for Q4’18 as 5.17 billion liters of PMS, 1.16 billion litres of automotive gas oil (AGO), 81.12 million litres of household kerosene (HHK), 256.73 million litres of aviation turbine kerosene (ATK) and 137.53 million of Liquefied Petroleum Gas (LPG) were distributed nationwide during the period.