Fuel Imports Hit 2.3bn Litres Despite Local Production Despite the commencement of petrol production by two major refineries in Nigeria in the last three months, oil marketers have continued to import and distribute the product nationwide. It was gathered on Wednesday that marketers imported 2.3 billion...

NNPC Buys From Dangote Refinery, Ends N24trn Fuel Import   The Nigerian National Petroleum Company Limited (NNPCL) has stopped importing refined petroleum products and is now off-taking fuel from the Dangote Petroleum Refinery and other local refineries. NNPC’s Group Chief Executive Officer, Mele Kyari, disclosed this on...

Nigeria Import Grew to N35.9tn in 2023 – NBS Nigeria’s total imports grew to N35.9tn in 2023, from N25.5tn recorded in 2022, according to data by the National Bureau of Statistics. A breakdown of the data showed that in the first and second quarters of 2023,...

Manufacturing Sector Dominates Nigeria's Import Contributions with N3.9tn in Q3 of 2023   The manufacturing sector has topped the list of Nigeria's import contributions in the 3rd quarter of 2023. According to the National Bureau of Statistics (NBS) report, the manufacturing sector contributed the most to Nigeria's...

Manufacturers’ Raw Material Imports Hit N8trn In Three Years   Manufacturers have spent at least N7.9tn to import raw materials in the past three years. According to manufacturers, the high raw materials imports bill is due to operators’ decision to source foreign exchange from the parallel market...

Nigeria Imported N1.5trn Raw Sugar In Six Years   Nigeria’s importation of raw sugar rose to N1.54tr between 2017 and 2022, an analysis of quarterly reports of the country’s foreign trade reports released by the National Bureau of Statistics (NBS) has shown. The reports indicated that the...