₦airaland Forum

press9jatv:
picture of Tinubu poster contesting as Lagos Senator in 1993. Na Tinubu owns SDP. It’s efforts in futility for Elrufai and his handlers joining sdp in kaduna State..

Nigeria’s petrol imports have persisted with no significant decline despite reported rising domestic refining capacity.

Nigeria, Africa’s largest crude oil producer and home to one of the biggest private refineries in the world, imported N3.3 trillion worth of Motor Spirit, Ordinary (Petrol) in the last three months of 2024.

Data sourced from the latest report by the country’s bureau of statistics (NBS) revealed that petrol topped Nigeria’s most traded commodities imported during the quarter. This is despite a 0.495 percent decline.

Energy analysts say that Nigeria is severely impacted by the high cost of imported fuel, which puts a drain on the country’s resources and exacerbates its economic problems.

It was anticipated that the recent start of operations at the Dangote Refinery and the restoration of state-owned refineries would lessen the nation’s dependency on imported petrol. However fuel imports have continued unchecked, raising worries about a sustained reliance on foreign fuel sources.

“By allowing fuel imports, we export jobs and economic value to foreign countries. This is not in the best interest of Nigeria,” said, a senior industry executive.

Despite rising local refinery production, data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows changes in supply volumes and daily averages, indicating a substantial reliance on imports.

Although statistics reveal significant fluctuations throughout the year, fuel imports have been essential in supplying Nigeria’s fuel needs. The volume of imports in January 2024 was 1,357,044,721 litres, and in February it dropped slightly to 1,343,509,376 litres.

In March, imports surged to 1,461,889,416 litres, reversing the trend and indicating a greater reliance on outside sources. Further swings were observed in the following months, as imports fell to 1,288,974,567 litres in April before progressively rising to 1,313,440,530 litres in May and 1,398,411,753 litres in June.

With a peak in October of 1,524,565,174 litres and a large decline in November of 1,253,477,626 litres with a minor recovery to 1,482,726,064 litres in December, the second half of the year saw further remarkable fluctuations.

Despite efforts to increase local refinery production, Nigeria’s reliance on foreign petrol supplies has been strengthened by the country’s 13.76 billion litres of petrol imports during the course of the year.

The dependence on imported petroleum was further highlighted by the fact that local refinery production remained relatively low as compared to import levels. Only 794,369,526 litres of fuel were produced by local refineries between January and May 2024, which is a much less amount than the amount imported.

January had the lowest production throughout this time, at 90,498,122 litres, while May had the greatest, at 286,074,494 litres. The entire amount of petrol produced throughout the year, including both imports and domestic refinery production, was 14,553,681,578 litres, according to NMDPRA data.

With substantial peaks in some months, especially October and December, the supply trended similarly to import trends. Additionally variable was the daily average petrol supply, which ranged from 42.3 million litres in May to a peak of 56 million litres in October. The overall daily average supply for the year stood at 43,775,636 liters, reinforcing the need for stable supply mechanisms to meet national fuel consumption needs.

mrvitalis:
None the states with slightly functional ones

Are bayelsa, Enugu and IMO... The rest don't have

And yet they keep abusing Enugu

zero8zero:
Nigerians, continue to dey do una self and then be shouting Tinubu. Same with food retailers, they don't want to bring down prices despite prices coming down. This country enh. And they will not hesitate to immediately increase their price if there's a little increase but to bring it down, na wahala.

chrisifeanyi:
She's being witch-hunted because she is an Igbo minister.
What is 138M?
Whereas others steal millions and won't even get efcc invitation.
Leave that woman alone.
What is 138M?

malali:
Still being punished for this nonsense utterance.
You were laden with IPOB sentiments to have made statements like that.
If you have nothing good to say......you keep quiet.
In Nigeria when you fight a relatively young politician, you are fighting his Godfather(who might be 100% anonymous but usually very powerful) indirectly.

Some of the men that are in power today, their mothers gave birth to them at the age of 15-16 especially those from the North.
Even in America and UK a lot of women in the rural areas have children that young. Dont let western media keep fooling you. Go to Alabama, USA
You lacked situational awareness, running your mouth as minister.

You should have shown some restraints, making such statements.
A lot of people were not happy.

Wutinky:
This boy, you are here again, i am going to flog the madness nuisance out of you, if you continue to cause nuisance on Nairaland, ire o

Christistruth02:
So who were the Lawmakers that voted Obasa back into office with a majority then?

DaddyCoool:
Women are not only better and intellectually stronger, they have to pretend to be weaker to accommodate men

DaddyCoool:
Not true at all. It has been scientifically proven that if they really apply themselves women are generally more intelligent than men

DaddyCoool:
No more wars for one thing.
Not just because I'm a woman, but if you really think deeply and honestly about it, you'd realize that the world would be a better place without men!

God1000:
Sycophants, I don't know why women don't like supporting each other

verminnel:
Just a little sin

Truvelisback:
Igodo.

nathaniel27:
I



Passion
Sun set beach
Diego and Paloma 😁

Magnetic010:
watched isakaba, hard way,

Biodun556:
I hope Makoko people will agree to settle on the ground rather shore lines

TooMuchStuff:
Rest in Peace sir 🙏

You almost won my heart ❤ in your love for a new Nigeria being possible by you supporting Peter Obi until you caved in to Yoruba tribalism.

The rest they say is history.... Sail On...baba ⛵

hafeeanubasy:
It's neccessary before frustrated hate filled opposition championed ty IPOB terrorists will distort the information for public consumption.

Na madness you take cure madness!

Ayobami7:
So it's former governors of Ogun and Osun that determined who should be the speaker of our state?? No man's land indeed

hisexcellency34:
You have nothing to lose nigga. If its MTN or Seplat now, i for dey cry for you

Wutinky:
I know you are typing all this gibberish from one bush village or farm in Epe, you need hot slap to reset that your dysfunction brain

Wutinky:
I'm no longer from Bauchi, you are a confusionist and need urgent therapy, go and help your mom in the Kitchen let adults comment, please

Wutinky:
What do you expected from a bush fuulish kid who still got feed by his parents

Wutinky:
Are you from Ijebu-ode, answer is capital NO , funny thing is that you don't even know anywhere in Ijebu-ode, dude take your low self esteem back to your Epe, where do you said i came from, Bauchi or Igbo? you are too local for my likeness, i spit on your bald head