By our Reporter
Reliable information reaching us from a new report has revealed that the Nigerian National Petroleum Company Limited spent over N1.2 trillion importing petrol in three months.
The fuel was imported from different countries around the world which include Niger republic In the last few days, many Nigerians have been grappling with petrol scarcity as queues have surfaced in filling stations across the country.
From the National Bureau of Statistics disclosure, Nigeria spent N1.199 trillion on the importation of Premium Motor Spirit (PMS), also known as petrol, in three months, between July and September 2022(Q3,2022). NBS stated this in its Foreign Trade Statistics for the third quarter of 2022 as obtained by reporters from its website.
Factually, according to the report, the amount spent importing petrol for the period July to September 2022 is a 16.9 percent increase when compared with the N1.026 trillion spent to import the commodity in the same period in 2021.
READ MORE: President Muhammadu Buhari Signs the $47.39 Billion 2023 Budget
And of course, a breakdown of countries and regions from which the majority of commodities imported into Nigeria originated is given below.
In the meantime, the NBS further revealed that the petrol importation bill for Q3, 2022 was the highest in recent times.
And in the same Q3, 2018, 2019, and 2020, respectively Nigeria spent N883.565 billion, N371.8 billion, and N532.615 billion respectively to import the commodity. It is important to note that Nigerian National Petroleum Company Limited is the sole importer of petroleum products. Top three imported commodities into Nigeria Nigeria’s total imports, according to the NBS, in the third quarter of 2022 was N5.664 trillion. NBS disclosed that premium motor spirit ranked top among Nigeria’s total imports in the quarter under review, followed by gas oil with N261.595 billion spent on its importation. Durum wheat imports gulped N252.621 billion, ranking as the third most imported commodity.
The list of countries Nigeria is importing petrol from.
The NBS report did not specify the nations from which Nigeria purchased its fuel in Q3, 2022. However, according to data from World Integrated Trade Solution (WITS) in 2020, Nigeria imported petrol from 64 countries.
The countries are: United Arab Emirates, Austria, Belgium, Benin, Bulgaria, Canada, Switzerland, Chile, China, Cote d’Ivoire, Germany, Denmark, Egypt, Arab Rep., Spain, Estonia, Ethiopia (excludes Eritrea), Finland, France, Gabon, United Kingdom, Ghana, Guinea, Equatorial Guinea, Greece, Hungary, Indonesia, India, Ireland Iraq Israel Italy Japan, Korea, Rep. Kuwait Lebanon, Sri Lanka, Lithuania, Luxembourg, Latvia, Morocco, Mexico, Malaysia, Niger, Nicaragua, Netherlands, Norway, Pakistan, Poland, Korea, Dem. Rep., Portugal, Romania, Russian Federation, Saudi Arabia, Singapore, Sweden, Eswatini, Togo, Thailand, Tunisia, Turkey, United States, Vietnam and South Africa.
