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Nigeria's Petrol, Diesel Imports Drop After Border Closure - Business - Nairaland

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Nigeria's Petrol, Diesel Imports Drop After Border Closure by prof2007: 7:16am On Nov 15, 2019
The nation’s imports of petrol and diesel fell by about 11% and 15%, respectively in August and September, latest data released by the National Bureau of Statistics on Thursday showed. The decline in imports of the petroleum products followed the partial closure on August 22 of the nation’s land borders with countries such as Benin and Niger in order to check smuggling of contraband into the country.

Volume of the Premium Motor Spirit, also known as petrol, imported into the country dropped to 1.46 billion litres in September, down from 1.64 bn litres in August and 1.99 bn litres in July. NBS data showed that petrol imports stood at 2.24 bn litres in January; 1.56 bn litres in February; 1.07 bn litres in March; 2.07 bn litres in April; 2.01 bn litres in May, and 1.53 bn litres in June.

The country imported a total of 5.09 bn litres of petrol in the third quarter of the year, down from 5.61 bn litres in the previous quarter. A total of 4.89 bn litres of petrol was distributed by trucks to all states in Q3, compared to 5.18 bn litres in Q2, according to the NBS. The volume of Automotive Gas Oil (diesel) imported into the country dipped in September to its lowest level this year at 322.63 million litres, compared to 377.91 mn litres in August and 483.93 mn litres in July.

Diesel imports hit a high of 580.39 mn litres in June, rising from 452.19 mn litres in May; 351.18 mn litres in April; 391.21 mn litres in March; 379.75 mn litres in February, and 436.03 mn litres in January. The country imported 1.18 billion litres of diesel in Q3, down from 1.38 bn litres in Q2. The data also revealed that a total of 1.25 bn litres of diesel were distributed across the country in Q3, compared to 1.28 bn litres in the previous quarter.

Nigeria, Africa’s top oil producer, relies heavily on importation to meet its fuel needs as the nation’s refineries remain in a state of disrepair. The Nigerian National Petroleum Corporation had said in early September that the recent closure of the borders might have contributed to the huge reduction in petrol evacuation from fuel depots.

“Significant drop in the PMS evacuation from fuel depots noted since August 22nd may be connected to border closure and other interventions of the security agencies aimed at curbing smuggling. We will contain smuggling of the PMS,” the Group Managing Director, NNPC, Mele Kyari, tweeted on September 7.

The corporation had said in July that petrol was being smuggled out of the country to Ghana, Burkina Faso, Mali and Cote d’Ivoire as a result of the price disparity of petrol between Nigeria and the other West African countries.

SOURCE (abridged): https://punchng.com/petrol-diesel-imports-drop-after-border-closure/
Re: Nigeria's Petrol, Diesel Imports Drop After Border Closure by SEGLIZ: 7:20am On Nov 15, 2019
there is to do the needful, abundance of crude oil still we import finished product to meet our consumption need.
Nigeria got destroyed finally during babangida regime only for the 1999 government till date to keep perambulating without a meaningful headway.
funny enough the monsters behind this mess won't want things to work. they built refinery along the Africa corridor, take the crude down refine then bring down like they bought it.
this industry monsters and devils are reaping us off with the landing cost.
Re: Nigeria's Petrol, Diesel Imports Drop After Border Closure by beresponsible(m): 7:27am On Nov 15, 2019
Of course why not? In the past we were importing not only for Nigeria, but for Benin, Cameroon, Niger, Burkina
Re: Nigeria's Petrol, Diesel Imports Drop After Border Closure by yinkajewole: 8:36am On Nov 15, 2019
Will this have any impact on the longrun?

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