Nigeria Imported N2.3trn Fuel In 2018 – NBS

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A new report released by the Nigeria Bureau of Statistics (NBS) has revealed that the country imported Premium Motor Spirit (PMS) valued at N2.289 trillion in 2018.

The report say a total of N802.4 billion was imported in the first quarter of the year, N744.28 billion in the second quarter and N742.82 billion recorded in the third quarter of 2018.

In its month-on-month analysis of the Nigeria’s fuel import, the report showed that in January, February, March, April, May and June 2018, Nigeria imported fuel valued at N384.59 billion, N357.45 billion, N103.08 billion, N190.26 billion, N380.7 billion and N149.44 billion respectively.

For July, August and September 2018, the NBS report stated that N343.25 billion, N378 billion and N295.03 billion fuel was imported respectively.

The report further pointed out that fuel import in the third quarter of 2018, accounted for 24.4 per cent of Nigeria’s total imports in the period under review.

Also, the report said the floating or submersible drilling or production platforms worth N1.159 trillion was imported from South Korea in August 2018.

It further stated that total imports into Nigeria in the third quarter of 2018 stood at N4.172 billion, rising from N2.4 trillion in the second quarter of 2018.

 

 

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