Nairametrics| A new report from the National Bureau of Statistics (NBS) shows that petroleum products take the lion’s share of Nigeria’s imports. The NBS’s Petroleum Products Statistics publication for Q4 2016 shows that Nigeria spent ₦ 2.57 trillion  importing petroleum products in the country in 2016.

Petrol took the largest chunk with 18.8 billion litres imported at a cost of ₦2.01 trillion. 4.8 billion litres of diesel were imported at a cost of ₦505.8 billion. Kerosene accounted for the least, costing ₦70.7 billion for 713.79 million litres.

May 2016, which was the month when the deregulation of petrol was implemented, saw the highest volume of petrol imported into the country. 2.02 billion litres of petrol were imported  at a cost of ₦249.88 billion.

Download the report below;

 

Download (PDF, 16.51MB)

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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