The National Bureau of Statistics (NBS) has reported a significant decline in the importation of Premium Motor Spirit (PMS), or petrol, over the past year. According to the latest figures, petrol imports dropped by 3.58 billion litres, from 23.54 billion litres in 2022 to 20.30 billion litres in 2023, representing a 13.77% year-on-year reduction. The most notable decrease occurred in the second half of 2023, where imports fell by nearly 30% compared to the first half of the year.
In contrast, the NBS report noted a rise in the importation of Automotive Gas Oil (AGO), commonly known as diesel. Diesel imports increased by 23.66%, from 4 billion litres in 2022 to 4.94 billion litres in 2023. The report also highlighted modest growth in local diesel production, which rose by 6.76%, alongside a significant 56.02% increase in household kerosene production, reaching 69.71 million litres in 2023.
The decline in petrol imports and the increase in diesel imports suggest a shift in fuel consumption patterns in Nigeria. While petrol usage has decreased, possibly due to economic factors or reduced demand, the rise in diesel and kerosene production reflects changes in energy needs and production capabilities.