From 2015 to 2019, Nigeria could only produce 1.46 billion litres of petrol due to low refining capacity caused by the country’s inactive refineries, as reported by the National Bureau of Statistics. It disclosed this in its 2023 Petroleum Products Distribution Statistics released recently.
The PUNCH observed that the 1.46 billion litres produced within the period was not up to what the country would consume in two months. According to the report, in 2015, the country produced 377.9 million litres of petrol; 1.05 million litres in 2016; 951.56 million in 2017 and 128.1 million litres in 2019. No fuel was refined in 2018, it indicated.
From 2020 to 2023, the country only produced diesel and kerosene with the help of modular refineries, as the country’s refineries were moribund. As a result, over 20 billion litres of petrol was imported in 2023, three billion litres below the 23 billion litres imported in 2022.
According to the report, 20.30 billion litres of Premium Motor Spirit were imported in 2023 relative to 23.54 billion litres in 2022, dipping by 13.77 per cent.
