Petrol Importation Sees 3.29% Drop in 2023, NBS Reports

The National Bureau of Statistics (NBS) has released its “First Half 2023 Petroleum Products Report,” revealing a 3.29% decrease in the importation of Premium Motor Spirit (PMS) compared to the same period in 2022.

According to the report, the volume of PMS imported in the first half of 2023 was 11.94 billion litres, down from 11.56 billion litres in the corresponding period of 2022. This represents a 3.29% decrease in petrol importation.

Additionally, the NBS noted a 5.8% decline in the volume of PMS trucked out within the country during the first half of 2023. The volume dropped from 12.19 billion litres in the corresponding quarter of 2022 to 11.48 billion litres in the first half of 2023.

The report stated, “In the first half of 2023, PMS truck out stood at 11.48 billion litres, indicating a 5.83% decrease when compared to 12.19 billion litres recorded in the first half of 2022.”

These findings suggest a decrease in both the importation and domestic distribution of petrol in Nigeria during the first half of 2023.