Nigeria’s petrol importation inches closer to 12 billion liters in first half 2023, says NBS

Nigeria imported 11.94 billion litres of Premium Motor Spirit (PMS), commonly known as petrol, during the first half of 2023, fresh data from the National Bureau of Statistics (NBS) has shown.

In the report titled “Petroleum Products Distribution Statistics Half Year 2023” released on Wednesday, February 21, 2024, this represents an increase of 3.29% when compared to the 11.56 billion litres recorded in the same period of 2022.

In addition, the report highlighted that 2.83 billion litres of Automotive Gas Oil (AGO), also known as diesel, were imported during the period in review, marking a substantial 49.72% surge compared to the 1.89 billion litres in the corresponding period of 2022.

In terms of local production, the report stated that in the first half of 2023, 26.07 million litres of Household Kerosene (HHK) were locally produced compared to 22.33 million litres in the first half of 2022, indicating a growth rate of 16.79% over the period.

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For Automotive Gas Oil (AGO), 55.48 million litres were locally produced in the first half of 2023, higher, relative to 50.19 million litres reported in the corresponding period of 2022. This shows a growth rate of 10.54% in the first half of 2023.

The reports stated further that “In the first half of 2023, PMS truck out stood at 11.48 billion litres, indicating a 5.83% decrease when compared to 12.19 billion litres recorded in the first half of 2022.

“In terms of imported products, 11.94 billion litres of Premium Motor Spirit (PMS) were imported in the first half of 2023 relative to 11.56 billion litres in the corresponding period of 2022, showing an increase of 3.29%.

“Also, 2.83 billion litres of Automotive Gas Oil were imported in the first half of 2023, indicating an increase of 49.72% compared to 1.89 billion litres in the same period of 2022”

By Babajide Okeowo

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