In the latest petroleum products distribution statistics released by the National Bureau of Statistics (NBS), importation of Premium Motor Spirit (PMS) also known as petrol dropped by 3.5 billion litres to 20.30 billion litres in 2023 from the 23.54 billion litres recorded in 2022, showing a decrease of 13.77 percent year-on-year.
According to the NBS data released on Tuesday, Nigeria imported 8.36 billion litres of Premium Motor Spirit (petrol) in H2 (first half) of 2023, a significant decrease from the 11.94 billion litres imported in H1 2023, marking a 29.99 per cent reduction.
A breakdown for the monthly volume of fuel imports in 2023 showed that 2.09 billion was brought in January, reduced to 1.99 billion in February, increased to 2.29 billion in March, 1.91 billion in April, and 2.01 billion in May.
It was 1.64 billion in June, 1.45 billion in July, 1.09 billion in August, 1.21 billion in September, 1.16 billion in October, 1.55 billion in November and 1.88 billion in December.
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These figures highlight a drop in consumption across the country.
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