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Nigeria imported 20.60bn litres of petrol in 2019 – NEITI

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Nigeria imported 20.60bn litres of petrol in 2019 – NEITI

By Salomon Asowata

The Nigeria Extractive Industries Transparency Initiative (NEITI) reports that Nigeria imported a total volume of 20.60 billion liters of Premium Motor Spirit (PMS), commonly known as Petrol, in 2019.

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

NEITI said that figure was 3% higher than the 20.001 billion liters imported by the country in 2018.

He said: “The total imports of PMS were 20.60 billion liters with the Nigerian National Petroleum Corporation (NNPC), representing 100% of the total imports.

“Of these imports, NNPC distributed 27 percent (5.57 billion liters), while other distributors distributed 73 percent (15.04 billion liters).

According to the report, a total volume of 148.13 million liters of dual-use kerosene (DPK) was imported by the country in 2019.

He said it was 55% less than the 329.396 million liters of DPK imported in 2018.

“Of these imports, the NNPC distributed 21 percent (31.47 million liters) while other traders distributed 79 percent (116.66 million liters),” the report said.

It further revealed that 5.15 billion liters of automotive diesel fuel (AGO), also known as diesel, and 1.07 billion liters of aviation turbine kerosene (ATK) were imported in 2019.

The report indicates that the sum of 518.07 N was spent on importing PMS for local consumption during the period under review.

He noted that this amount was 213.07 billion naira higher than the 305 billion naira approved for under-recovery of the MPS in the national budget for 2019.

(NAN)

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