In the 2021 FY report of petrol import, Nigeria records N3.97 trillion of the total value of the commodity, which represents an 88.15% jump. This is according to the National Bureau of Statistics (NBS).
As read in data obtained from the NBS, petrol import rose by N1.86 trillion higher than the N2.11 trillion worth of the commodity imported in the preceding year (2020).
BizWatch Nigeria understands that the Nigerian National Petroleum Company (NNPC) Limited is the sole importer of petrol into the country in recent years, as individual marketers are yet to resume importation of the commodity due to a lack of full deregulation of prices and access to foreign exchange at the official rate.
The NBS report further revealed that aside from petrol, used vehicles and durum wheat topped the list of items imported by Nigeria in 2021, jointly accounting for 28.9% of the total import recorded in the year under review.
However, following the war between Russia and Ukraine, the prices of crude oil have increased significantly in the global market, which has also affected the landing cost of petrol, indicating that Nigeria will spend more this year.
According to the NBS report, Nigeria imported goods worth over N20.84 trillion in 2021, indicating an increase of 64% compared to the N12.7 trillion recorded in the preceding year.
Meanwhile, on Thursday, March 24, 2022, the Nigerian Ports Authority (NPA) disclosed that 22 ships at the Lagos Port Complex were discharging petrol and others.
The NPA, in its daily Shipping Position, said the ships were discharging bulk wheat, general cargo, container, frozen fish, ethanol, automobile gasoline, base oil, butane gas, bulk urea, and petrol.
According to the port authority, 26 other ships were expected to arrive between now and Sunday, April 10.
