Thursday, 21 May 2020 06:18

At 20.89bn Litres, Nigeria’s Petrol Imports Hit Six-year High

•South-west takes delivery of 6.24bn litres
•North-east got 1.4bn litres

 

Nigeria imported a total of 20.89 billion litres of petrol in 2019, the National Bureau of Statistics (NBS) stated wednesday.

 

Of this figure, the South-west took delivery of the highest number of trucks, 170,464 or 6.24 billion litres, while the least, 30,963 trucks or 1.4 billion litres went to the North-east.

This figure represented a six-year high after the country had imported 20.14 billion litres in 2018, representing a five-year high.
Statistics showed that the 17.3 billion litres of petrol imported in 2017 represented a four-year low.
The NBS report, released yesterday, also indicated that 5.15 billion litres of diesel as well as 128.11 million litres of Household Kerosene (HHK) were imported within 2019.
Diesel importation had declined for the second consecutive year in 2018 to 4.23 billion litres from 4.27 billion litres in 2017.
In 2016, diesel importation was 4.6 billion litres, indicating a nine per cent slump in two years.
However, in 2019, it rose to 5.15 billion litres, according to NBS.

In the case of HHK, previous data showed that its importation increased to 537.6 million litres in 2018 after it had dropped for the fourth consecutive year to 340 million litres in 2017. The importation had increased by 58 per cent year-on-year in 2018.

Within the last five years to 2018, kerosene importation had declined by 82 per cent.

In 2014, the total volume of kerosene imported was 2.93 billion litres, while it stood at 537.million litres in 2018, and in 2019, it was 128.11 million litres.

According to the Petroleum Products Importation Statistics for Full Year 2019, released by the statistical agency, 1.07 billion litres of Aviation Turbine Kerosene (ATK), 45.98 million litres of Low Pour Fuel Oil (LPFO) and 526.06 million litres of Liquefied Petroleum Gas (LPG) were imported as at the end of last year.

The zonal distribution of truck-out volume for 2019 further showed that 20.58 billion litres of petrol, 5.16 billion litres of diesel, 270.22 million litres of household kerosene, 1.05 billion litres of ATK, 84.53 million litres of LPFO and 734.21 million litres of LPG were distributed nationwide.
A further breakdown of the statistics indicated that the North-Central received a total of 87,606 trucks of petrol translating to over 3.67 billion litres, representing 17.87 per cent of total import in 2019.

The North-east got a total of 30,963 trucks with a combined volume of 1.40 billion litres, accounting for 6.81 per cent of the total delivery.
The North-west received 80,240 trucks, which accounted for 3.65 billion litres of petrol, representing 17.77 per cent of petrol import and distribution.

The South-east received 51,424 trucks with 2.30 billion litres of petrol in 2019, representing 11.19 per cent.
In addition, the South-south accounted for 83,100 trucks with a total of 3.29 billion litres of petrol, or 16.01 per cent while the South-west took delivery of 170,464 trucks with 6.24 billion litres, representing 30.35 per cent of truck-out volume for the year.
Annual petroleum import stood at 20.89 billion litres while the daily average was estimated at 57.24 million litres for the year under review.

There was a rise in petrol importation in 2018, after the previous four-year low of 17.3 billion low in 2017.

Diesel importation also declined for the second consecutive year in 2018 to 4.23 billion litres from 4.27 billion litres in 2017.

Importation of diesel in 2016 was 4.6 billion litres. However, comparing a five-year historical growth trend in the importation of the commodity recorded a 22 per cent increase in diesel importation between 2014 and 2018.

 

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