April 16, 2024

PMS importation jumps by 3.29% to 11.94bn litres in H1 2023

Adebayo Obajemu

According to the National Bureau of Statistics, an aggregate of 11.94billion litres of Premium Motor Spirit, also known as petrol, was imported into the country in the first half of 2023, 3.29percent higher than 11.56billion litres recorded in the first quarter of 2022.

Going by data gleaned from NBS website 2.83 billion litres of Automotive Gas Oil, also known as diesel, were imported in the first half of 2023, showing an increase of 49.72percent compared to 1.89 billion litres in the same period of 2022.

In the first half of 2023, 26.07million litres of Household Kerosene, HHK, were locally produced compared to 22.33 million litres in the first half of 2022, indicating a growth rate of 16.79percent in the period under review.

For Automotive Gas Oil, 55.48 million litres were locally produced in the first half of 2023, higher by 10.54percent compared to 50.19 million litres reported in the corresponding period of 2022.

Although NBS did not show where these products were locally produced from, whether modular refineries or artisanal refineries, however, it said February 2023 had the highest AGO production volume of 11,004,706.87 litres, while May 2023 recorded the least volume being 3,839,802.00 litres of AGO produced locally.

Similarly, NBS also stated that June 2023 had the highest production volume of HIM amounting to 6,217,644.00 litres while January 2023 saw the least production being 2,184,181.34 litres of household kerosene produced locally.

In terms of truck out during the period under review, PMS truck out stood at 11.48 billion litres, indicating a 5.83percent decrease when compared to 12.19 billion litres recorded in the first half of 2022.

Meanwhile, the NBS on its petroleum products distribution statistics noted that no atom of PMS was produced locally in the first half of 2023, while no litre of HHK was imported into the country in the period under review.