NEITI: Nigeria imported 20.6 billion litres of petrol in 2019

The Nigeria Extractive Industries Transparency Initiative, NEITI, has said that it will be working with the Corporate Affairs Commission, CAC, to identify, document and disclose the real owners of Nigeria’s oil, gas and mining assets under the country’s implementation of Beneficial Ownership policy of the global extractive industries transparency initiative.

The Nigeria Extractive Industries Transparency Initiative has said that Nigeria imported a total volume of 20.6 billion litres of Premium Motor Spirit, popularly known as petrol, in 2019.

This is contained in the NEITI audit report on the Oil and Gas Sector 2019 obtained by newsmen on Wednesday in Lagos.

NEITI said the figure was three per cent higher than the 20.001 billion litres imported by the country in 2018.

It said, “Total PMS imports were 20.60 billion litres with the Nigerian National Petroleum Corporation, accounting for 100 per cent of the total imports.

“Of these imports, NNPC distributed 27 per cent (5.57 billion litres), while other marketers distributed 73 per cent (15.04 billion litres).”

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According to the report, a total volume of 148.13 million litres of Dual Purpose Kerosene was imported by the country in 2019.

It said this was 55% lower than the 329.396 million litres of DPK imported in 2018.

“Of these imports, NNPC distributed 21 per cent ( 31.47 million litres) while other marketers distributed 79 per cent (116.66 million litres),” the report showed.

It further revealed that 5.15 billion litres of Automotive Gas Oil, also known as Diesel and 1.07 billion litres of Aviation Turbine Kerosene were imported in 2019.

The report said the sum of N518.07 billion was spent on the importation of PMS for local consumption during the period under review.

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It noted that this was N213.07 billion higher than the approved N305 billion for PMS under-recovery in the national budget for 2019.

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