Nigeria’s Local Refineries Struggle To Operate Amid 20.2 Billion Litres Of Petrol Imports In 2023

Nigeria’s Local Refineries Struggle To Operate Amid 20.2 Billion Litres Of Petrol Imports In 2023....KINDLY READ THE FULL STORY HERE▶

A review of data from the National Bureau of Statistics (NBS) reveals that Nigeria did not produce any petrol locally throughout the 2023 fiscal year……CONTINUE READING 

The statistics indicate that zero litres of petrol were refined between January and December. This situation persists despite Nigeria’s ownership of several refineries, namely the Port-Harcourt, Kaduna, and Warri refineries, all of which are currently non-functional.

Numerous government promises to revive these refineries, including recent claims that the Port-Harcourt refinery would resume operations in August 2024, have not materialized.

In stark contrast, Nigeria imported a staggering 20.2 billion litres of petrol in the 2023 fiscal year. This breakdown includes 2 billion litres in January, 1.9 billion in February, 2.2 billion in March, 1.9 billion in April, 2 billion in May, 1.6 billion in June, 1.4 billion in July, 1 billion in August, 1.2 billion in September, 1.1 billion in October, 1.5 billion in November, and 1.8 billion in December.

The country’s reliance on imported petroleum, due to the lack of operational state-owned refineries, has exacerbated fuel prices and left citizens feeling the strain.

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