October 06, (THEWILL) – Without a functional refinery, Nigeria imported a total of 20,3 billion litres of petrol in 2023, according to data by the National Bureau of Statistics (NBS). This translates to an average of 55.8 million litres per day.
The figure represents a 13.7 percent drop relative to 23.54 billion litres imported in the previous year – 2022.
The NBS in its Petroleum Products Distribution Statistics for Full-Year 2023, stated, “In terms of imported products, 20.30 billion litres of Premium Motor Spirit (PMS) were imported in 2023 relative to 23.54 billion litres in 2022, showing a decrease of 13.77 per cent.”
Presenting the data in truck haulage, the NBS said, “In 2023, PMS truck out stood at 20.22 billion litres, indicating a 16.96 per cent decrease relative to 24.35 billion litres recorded in 2022.”
The report further disclosed that local production of kerosene and diesel was stepped up during the year, without indicating the facilities that created the commodities and where they are located.
“About 69.71 million litres of Household Kerosene (HHK) were locally produced in 2023 compared to 44.68 million litres in2022, indicating a growth rate of 56.02 per cent over the period.
“For Automotive Gas Oil (AGO), 109.39 million litres were locally produced in 2023, higher, compared to 102.47 million litres reported in 2022. This represents a 6.76 per cent growth rate,” the report stated.
Also, 4.94 billion litres of Automotive Gas Oil were imported in 2023, indicating an increase of 23.66 per cent compared to 4.00 billion litres in the previous year.
Nigeria has been showcasing four dormant refineries for almost three decades which constitute a conduit for siphoning public funds by the leaders who engaged in endless repairs of these facilities.
The National Assembly in a show of empty and vague legislative responsibility have constituted panels to investigate the over N11 trillion spent in fixing the dormant refineries without any results.
In an apparent state of bewilderment stemming from what stakeholders and industry experts ascribed to ineptitude and corruption, the Nigerian National Petroleum Company Limited (NNPC) has made a detour on the endless route towards fixing the nation’s dormant refineries which have consumed over N10 trillion without producing a drop of petroleum products.
The nation’s oil company had in the last 12 years embarked on the turnaround maintenance of the four refineries – in Port Harcourt (two plants), Warri and Kaduna – with countless promises of fixing the facilities to end the notorious practice of importation of petroleum products.
However, in a dramatic turn of events, the NNPCL on August 30, 2024 announced that it was seeking private Operations and Maintenance (O&M) companies to bid for the Warri and Kaduna refineries (while repairs of the Port Harcourt refinery are in progress).
With Dangote Refinery commencing actual production on September 3, and distribution on September 15, 2024, it is now clear that Nigerians have begun to enjoy the availability of locally refined petrol – after about 28 years.
The 650 barrel-per-day Dangote Refinery is not only a game-changer, but an eye-opener: Nigerian leaders were not willing to end importation of petrol, or enthusiastic about fixing the local refineries.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
