Subsidy: Petroleum Imports Decline by 13.77 Percent – NBS
The Nigeria Bureau of Statistics says 20.30 billion litres of Premium Motor Spirit (PMS) were imported in 2023 relative to 23.54 billion litres in 2022, showing a decrease of 13.77%.
This is contained in its report titled: “Petroleum Products Distribution Statistics Full Year 2023.”
According to the report, local production of oil products witnessed a significant rise in the said year of analysis following the removal of petroleum subsidy by the Nigerian government, the report said.
For Automotive Gas Oil (AGO), the report also said that 109.39 million litres were locally produced in 2023, higher, compared to 102.47 million litres reported in 2022. This represents a 6.76% growth rate.
It added: “In 2023, PMS truck out stood at 20.22 billion litres, indicating a 16.96% decrease relative to 24.35 billion litres recorded in 2022.”
Also; “About 69.71 million litres of Household Kerosene (HHK) were locally produced in 2023 compared to 44.68 million litres in 2022, indicating a growth rate of 56.02% over the period.”
However, “4.94 billion litres of Automotive Gas Oil were imported in 2023, indicating an increase of 23.66% compared to 4.00 billion litres in the previous year,” the report added.
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