July 25, 2021

NEWS AGENCY OF NIGERIA

Africa's Media Giant

Nigeria imported 20.60bn litres of petrol in 2019 – NEITI

By Solomon Asowata

The Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria imported a total volume of 20.60 billion litres of Premium Motor Spirit (PMS), popularly known as Petrol, in 2019.

This is contained in NEITI audit report on the Oil and Gas Sector 2019 obtained by the News Agency of Nigeria (NAN) on Wednesday in Lagos.

NEITI said the figure was three per cent higher than the 20.001 billion litres imported by the country in 2018.

It said: “Total PMS imports were 20.60 billion litres with the Nigerian National Petroleum Corporation (NNPC), accounting for 100 per cent of the total imports.

“Of these imports, NNPC distributed 27 per cent (5.57 billion litres), while other marketers distributed 73 per cent (15.04 billion litres).”

According to the report, a total volume of 148.13 million litres of Dual Purpose Kerosene (DPK), was imported by the country in 2019.

It said this was 55 per cent lower than the 329.396 million litres of DPK imported in 2018.

“Of these imports, NNPC distributed 21 per cent ( 31.47 million litres) while other marketers distributed 79 per cent (116.66 million litres),” the report showed.

It further revealed that 5.15 billion litres of Automotive Gas Oil (AGO), also known as Diesel and 1.07 billion litres of Aviation Turbine Kerosene (ATK) were imported in 2019.

The report said the sum of N518.07 was spent on the importation of PMS for local consumption during the period under review.

It noted that this was N213.07 billion higher than the approved N305 billion for PMS under-recovery in the national budget for 2019. (NAN)

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