NBS Q4 2016 Petroleum Products Statistics: Nigeria Spent N2.1 Trillion Naira On Petrol In 2016

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.

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