Huge market for local refining as Nigeria imports 6.2Bn littres in 3 months

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Latest reports by the National Bureau of Statistics (NBS) indicates huge market for local refining. The NBS reported that Nigeria imported 6.149 billion liters of refined petroleum products in first quarter of 2018. The report obtained from the website of NBS, showed that 5.67 billion litres of Premium Motor Spirit (PMS), also called petrol, was imported into the country within the period under review.

A further breakdown of the petroleum products importation revealed that 954.47 million litres of Automotive Gas Oil (AGO), while 66.914 million litres of Household Kerosene was imported.

The report said 5,122.067 million litres of aviation turbine kerosene (ATK) were imported into the country.

It indicated that the month of March recorded the highest volume of PMS imported into the country at 2.41 billion litres, while the highest volume of AGO and kerosene were imported in January and February respectively.

The report showed that statewide distribution of truck-out volume for the quarter for PMS was 4.89 billion, AGO recorded 1.24 billion litres, while kerosene was 201.49 million litres.

It indicated that a total of 150.81 million litres of ATK was distributed nationwide during the period under review.

The report failed to show comparisms with previous quarters or to indicate how much spent on the impotation.