Business

Nigeria imports 4.79bn litres of petrol in 3 months

24 states sold petrol above fixed price in August —NBS

Nigeria imported 4.79 billion litres of Premium Motor Spirit (PMS), known as petrol, between April and June, 2018, the latest petroleum products importation statistics by the National Bureau of Statistics (NBS) has shown.

The data, which was released on Monday, reflected the volumes of importation of petroleum products for the second quarter of 2018.

This implies that the country’s importation of petrol dropped by 15.47 percent in the period compared with 5.67 billion litres imported between January and March, 2018.

It also indicated that 1.11 billion litres of Automotive Gas Oil (AGO), 43.79 million litres of Household Kerosene (HHK) and 200.39 million litres of Aviation Turbine Kerosene (ATK) were imported into the country in the review period.

According to the statistics, the month of April 2018 recorded the highest volumes of PMS imported into the country at 1.78 billion litres while the highest volume of AGO and kerosene were imported in June 2018.

“Statewide distribution of truck-out volume for Q2 2018 showed that 4.89bn of premium motor spirits (PMS), 1.17 bln litres of automotive gas oil (AGO), 168.83 mln litres of household kerosene (HHK) and 176.98 mln litres of aviation turbine kerosene (ATK) were distributed nationwide during the period under review,” the NBS stated.

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Lagos recorded the highest percentage share, accounting for 14.45 percent of the volumes of petrol distributed to states in the quarter. Kano followed with 8.70 percent, while Niger accounted for 5.82 percent.

On the other hand, Jigawa had the lowest percentage share of 0.22 percent of the volumes of petrol distributed to states in the quarter. Sokoto has 0,31 percent, while Yobe had 0,32 percent.

It would be recalled that the NBS had stated in its June PMS Price Watch that the average price paid by consumers for petrol decreased by 1.5% year-on-year and 1.4% month-on-month to N148.1 in June 2018 from N150.2 in May 2018.

 

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