Nigeria imports 45.8 million litres of petrol daily

THERE are indications that Nigeria may have imported over 45.8 million litres per day in 2017, indicating a decrease of 7.8 percent recorded in 2016.

Nigeria imports 45.8 million litres of petrol daily

The Department of Petroleum Resources, DPR, made this known in Lagos at the presentation of the Value Monitoring and Benchmarking (VMB) and its annual report tagged: "2017 Nigerian Oil and Gas Industry Annual Report".

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Speaking at the occasion, Mr Mordecai Ladan said that the report tended to give credence to the traditional views on the Nigerian downstream sector and, especially its weak link to the domestic upstream sector.

He said: "For example, while crude oil production aggregately peaked at 2.07 million barrels per day during the period, the total installed capacity of the local refineries remains at 446,000 barrels per day. And the need for growth in the refinery sub-sector becomes increasingly urgent, considering that capacity utilisation in the year under review was merely 8.67 percent."

"The availability of petroleum products in Nigeria continues to depend primarily on the importation of such products. The importation of petrol stood at an average of 45.8 million litres per day; posting a decrease of7.8 percentfrom 2016" .