https://www.accessbankplc.com/ https://www.accessbankplc.com/ https://www.accessbankplc.com/
ADVERTISEMENT
  • About Us
  • Privacy Policy
  • Contact Us
Wednesday, May 28, 2025
The Genius Media
  • Login
  • News
  • Politics
  • Business
  • Crime
  • Education
  • Health
  • Jobs
  • Sports
No Result
View All Result
  • News
  • Politics
  • Business
  • Crime
  • Education
  • Health
  • Jobs
  • Sports
No Result
View All Result
The Genius Media
No Result
View All Result
First Bank Ad First Bank Ad First Bank Ad

Nigeria imported 6.5 billion litres of fuel in Q2 2018

Tgmedia by Tgmedia
August 12, 2018
in Energy
0

“The petroleum products importation statistics for Q2 reflected that 4.79 billion litres of the PMS, 1.11 billion litres of AGO, 43.79 million litres of the HHK and 200.39 million litres of the ATK were imported into the country.

 

 

Between April and June this year, the country imported 6.5 billion litres of petroleum products, figures obtained from the National Bureau of Statistics have indicated.

The Petroleum Products Report, which was obtained on Friday in Abuja, showed that the country imported 4.79 billion litres of Premium Motor Spirits (petrol), and 1.11 billion litres of Automotive Gas Oil (diesel) during the period.

It showed that 43.79 million litres of Household Kerosene and 200.39 million litres of Aviation Turbine Kerosene were also imported into the country during the three-month period.

The report stated that the month of April recorded the highest volume of petrol imported into the country at 1.78 billion litres while the highest volume of diesel and household kerosene was imported in June.

It read in part, “The petroleum products importation statistics for Q2 reflected that 4.79 billion litres of the PMS, 1.11 billion litres of AGO, 43.79 million litres of the HHK and 200.39 million litres of the ATK were imported into the country.

“The month of April recorded the highest volume of the PMS imported into the country at 1.78 billion litres.”

A further analysis of the report showed that the country imported 1.78 billion litres of the PMS in April while May and June had 1.67 billion and 1.3 billion litres, respectively.

For diesel, 309.9 million litres were imported in April while May and June had 387.43 million and 408.15 million litres, respectively.

Aviation fuel had an import volume of 14.7 million litres in April while May and June recorded importation of 64.18 million and 121.5 million litres in that order.

In recent times, the importation of petroleum products has constituted a major source of pressure on the foreign exchange market.

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, had while addressing journalists shortly after the Monetary Policy Committee meeting in April said the apex bank would support investors to build refineries.

He said the CBN would use the strength of its reserves, which he put then at $49.69bn to support the development of the nation’s refineries by supporting investors in that sector.

He said, “The Federal Government is encouraging private sector investors to come into refineries and what we do expect is when those private investors are coming into Nigeria to do business, if they are foreign, they will come with dollars and won’t need our dollars but if they are local and would want to import equipment of course they would need our dollars.

“We have a lot of dollars to allocate to them to bring in their equipment and I assure anyone who is interested in going into refineries business that if you have your licence, we’ll accord priority to you to import the equipment because we badly need it here.

“We all know that importation of petroleum products into the country constitutes a large portion of our import and as some point rising to about 25 per cent of our import volume. And we think of accelerating the process of investors going into refineries, it will further help to conserve our forex for importation of goods we cannot produce in Nigeria.”

Share this:

  • WhatsApp
  • Email
  • Tweet
  • Telegram

Like this:

Like Loading...
Tags: 6.5 billionApril and Juneimportedlitres of fuelNational Bureau of StatisticsNigeriaQ2 2018
Previous Post

Benzema, Bale Pip AC Milan to secure win for Real Madrid ahead of Super Cup

Next Post

#BBNAIJA: I was not surprised when I saw the acid threat on Cee-C’s life–Alex Declares

Related Posts

NNPC Reassures Nigerians On Fuel Supply
Energy

NNPC Reassures Nigerians On Fuel Supply…Promises Remedial Action on Defaulting Importers

February 10, 2022
Energy

Dangote refinery’ll boost Nigerian crude oil sale…….FG to save over $7.5bn

August 6, 2018
NNPCL Reduces Petrol Price
Breaking

BREAKING: NNPCL Reduces Petrol Price For Marketers [SEE NEW PRICE]

November 29, 2024
Next Post

#BBNAIJA: I was not surprised when I saw the acid threat on Cee-C’s life--Alex Declares

ADVERTISEMENT

About Us

Thegenius Media.com.ng is an Online Nigerian NEWS HUB with good coverage and reportage of Exclusive Stories, Daily News Updates, Politics, Entertainment, Crime, Lifestyle, Relationship Tips and Sports.

RELEVANT PAGES

  • About Us
  • Privacy Policy
  • Contact Us

Alert Us

Important Press Releases, Breaking Stories, Special Investigations: thegeniusmedia1@gmail.com

Office Address

No 26 Oroleye Crescent off Abel Oreniyi Street.
Off Salvation Road, Opebi
Ikeja, Lagos

Tel:

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
  • Politics
  • Business
  • Crime
  • Education
  • Health
  • Jobs
  • Sports

© TheGeniusMedia.com,ng

%d bloggers like this: