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11.94 bn litres of petrol imported in first half 2023 – NBS

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.As average price per litre of kerosene stood at N1, 329.53 in January

 

The National Bureau of Statistics says 11.94 billion litres of Premium Motor Spirit (PMS) also known as petrol were imported in the first half of 2023.

 

The NBS stated this in its Petroleum Products Distribution Statistics for Half Year 2023 released in Abuja on Wednesday.

 

The report said the figure of 11.94 billion litres of PMS reported in the first half of 2023 amounted to an increase of 3.29 per cent compared to the 11.56 billion litres recorded in the first half of 2022.

 

It noted that 2.83 billion litres of Automotive Gas Oil (AGO) also known as diesel were imported in the first half of 2023.

 

“This indicates an increase of 49.72 per cent compared to the 1.89 billion litres recorded in the first half of 2022.”

 

The report noted that PMS truck out stood at 11.48 billion litres in the first half of 2023, indicating a 5.83 per cent decrease when compared to 12.19 billion litres recorded in the first half of 2022.

 

It said 26.07 million litres of Household Kerosene (HHK) were locally produced in the first half of 2023 compared to 22.33 million litres in the first half of 2022.

 

“The figure indicates a growth rate of 16.79 per cent over the period.”

 

For diesel, the report said that 55.48 million litres were locally produced in the first half of 2023, indicating a 10.54 per cent increase compared to the 50.19 million litres recorded in the first half of 2022.

 

“This shows a growth rate of 10.54 per cent in the first half of 2023 compared to the corresponding period in 2022,” report said

 

.As average price per litre of kerosene stood at N1, 329.53 in January

The National Bureau of Statistics (NBS) says the average price of a litre of kerosene dropped from N1, 362.27 in December 2023 to N1, 329.53 in January 2024.

 

This is contained in the Bureau’s “Kerosene Price Watch’’ for January 2024 released on Wednesday in Abuja.

 

The report said the January price represented a 2.40 per cent decrease compared to what was obtained in December.

 

The NBS said the average price per litre of kerosene increased on a year-on-year basis by 15.27 per cent from N1, 153.40 recorded in January 2023 to N1, 329.53 in January 2024.

 

On state profile analysis, the report showed that Kaduna recorded the highest average price of N1, 833.33 per litre of kerosene in January, followed by Benue at N1, 766.67 and Niger at N1, 703.70.

 

“On the other hand, the lowest price was recorded in Bayelsa at N969.70, followed by Rivers at N1, 057.69 and Kwara atN1, 066.67.”

 

The NBS said the analysis further showed that the North-Central recorded the highest average retail price per litre of Kerosene at N1, 479.10, followed by the North-East at N1, 381.94.

 

It said the South-South recorded the lowest average retail price per litre of kerosene at N1, 225.83.

 

The report said the average retail price per gallon of Kerosene paid by consumers in January 2024 was N4, 870.83, indicating a 7.53 per cent increase from N4, 529.92 recorded in December 2023.

 

“On a year-on-year basis, the average price per gallon of kerosene increased by 25.34 per cent from N3, 886.11 recorded in January 2023.

 

On state profile analysis, it showed that Adamawa recorded the highest average retail price at N6, 083.33 per gallon of kerosene, followed by Bauchi at N5, 800.00 and Kano at N5, 777.78.

 

On the other hand, the report said Delta recorded the lowest price at N4, 000.00, followed by Ondo and Enugu at N4, 398.03 and N4, 409.05, respectively.

 

Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at N5, 526.39, followed by the North- West at N5, 062.78.

 

“The South-East recorded the lowest average price per gallon of kerosene at N4, 508.51,” the NBS said.

 

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