Nigeria Imported 28.9bn Litres Of Petrol In 2019 – NBS

The National Bureau of Statistics (NBS) on Wednesday reported that Nigeria imported 28.9bn litres of Premium Motor Spirit (PMS) petrol in 2019.

The bureau gave this figure in its Petroleum Products Imports and Consumption (Truck out) Statistics Report 2019.

It also stated that total volume of imported Automotive Gas Oil (AGO) stood at 5.15 billion litres while 128.11 million litres of Household Kerosene (HHK) and 1.07 billion litres of Aviation Turbine Kerosene (ATK), were also imported to the country last year.

A further analysis of refined petroleum products imported showed that 45.98 million litres of Low Pour Fuel Oil (LPFO) and 526.06 million litres of Liquefied Petroleum Gas (LPG) were imported into the country during the year in review.

The report clarified: “The Petroleum Products Importation Statistics for Full Year 2019 reflected that 20.89 billion litres of Premium Motor Spirit (PMS), 5.15 billion litres of Automotive Gas Oil (AGO), 128.11 million litres of Household Kerosene (HHK), 1.07 billion litres of Aviation Turbine Kerosene (ATK), 45.98 million litres of Low Pour Fuel Oil (LPFO) and 526.06 million litres of Liquefied Petroleum Gas (LPG) were imported into the country in full year 2019.”

Identified as one of the major sources of Nigeria’s foreign reserves depletion, development experts have consistently advised the government to commercialise the four major refineries by attracting investors into the downstream subsector.

Last February, the Department of Petroleum Resources, DPR, put national demand for PMS at 38.2 million daily. The Department, in its National Stock Report, stated that as February 25, 2020, the cumulative stock of PMS at depots across the country was 915.772 million litres, dropping by 3.15 per cent from 945.6 million litres recorded a day earlier.

Currently, the major refineries are operating at minimal level with decaying facilities and paucity of funds remaining the key constraints.