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Nigeria’s petrol import gulps N643.2bn in Q1 ‘20

Importation of Premium Motor Spirit (PMS) also known as petrol into Nigeria gulped a whooping N643.2 billion in the first three months of 2020. National Bureau of Statistics (NBS), which gave this hint, said that Africa’s biggest crude oil exporter imported 5.26 billion litres of the product between January and March 2020.

A petroleum products consumption data of the NBS obtained yesterday showed that 1.66 billion litres of Automotive Gas Oil (AGO), 258.27 million litres of Aviation Turbine Kerosene (ATK), 28.33 million litres of Low Pour Fuel Oil (LPFO) and 135.14 million litres of Liquefied Petroleum Gas (LPG) were imported into the country in Q1 2020. Using the N122.28 per litre landing cost, which was operational during the period, checks by New Telegraph showed that the imports of 5.26 billion gulped about N643.1928 billion.

Zonal distribution of truck-out volume during the period showed that 5.36 billion of PMS; 1.56 billion litres of automotive gas oil (AGO); 8.73m litres of household kerosene (HHK); 283.90m litres of Aviation Turbine Kerosene (ATK); 23.36 million litres of Low Pour Fuel Oil (LPFO) and 290.24 million of Liquefied Petroleum Gas (LPG) were distributed nationwide during the period under review. The North-Central zone received 42,193,518 litres of LPG, North-East 5,520,043 litres, North-West 33,013,986 litres, South-East 42,831,138, South-South 69,847,934 litres litres and South-West 96,833,659 litres totalling 290,240,278 litres of LPG distributed first quarter of 2020. Similarly, LPG was imported to Nigeria from four countries. The importation showed that from Argentina discharge quantity was 20,268.385 metric tonnes while in litres it was 34,578,770. From Equatorial Guinea 7,985,033 metric tonnes of LPG was imported and 14,317,772 litres discharged. The country also imported 3,857.555 metric tonnes of LPG from Trinidad & Tobago and discharged 6,967,748 litres. It imported 103,031.796 metric tonnes from the United States of America and discharged 176,139,927 litres, bringing total discharged LPG to 135,142.769 metric tonnes and 232,004,217 litres respectively during the period under review.

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