The National Bureau of Statistics (NBS) has disclosed that Nigeria imported a staggering 11.94 billion litres of Premium Motor Spirit (PMS), commonly known as petrol, in the first half of 2023.
The NBS stated this in its latest Petroleum Products Distribution Statistics for Half Year 2023 released in Abuja on Wednesday.
According to the report, the import volume of 11.94 billion litres of PMS during the initial half of 2023 marks a notable 3.29 per cent increase compared to the 11.56 billion litres recorded during the same period in 2022.
The statistics also indicate a substantial rise in the import of Automotive Gas Oil (AGO), commonly referred to as diesel, with 2.83 billion litres imported during the first half of 2023. This represents a significant surge of 49.72 per cent compared to the 1.89 billion litres imported in the corresponding period of 2022.
However, despite the surge in diesel imports, the report reveals a decrease in PMS truck out, which stood at 11.48 billion litres in the first half of 2023, indicating a 5.83 percent decrease compared to the 12.19 billion litres recorded in the first half of 2022.
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On the domestic production front, the report highlights a positive trend. It notes that 26.07 million litres of Household Kerosene (HHK) were locally produced in the first half of 2023, reflecting a significant increase from the 22.33 million litres produced in the same period of 2022, representing a growth rate of 16.79 per cent.
Similarly, diesel production also saw an uptick, with 55.48 million litres produced domestically in the first half of 2023.
This marks a 10.54 per cent increase compared to the 50.19 million litres recorded in the first half of 2022, indicating continued growth in this sector.
