PMS Imports Rise 21.7% In Q4’18
The two-quarter consecutive declines in the volume of premium motor spirit (PMS), popularly known as petrol, importation has been reversed with a 21.7 percent rise in the fourth quarter of 2018 (Q4’18) to 5.32 billion litres up from 4.37 billion recorded in Q3’18.
The report indicated that the country imported 5.32 billion litres of PMS and 1.30 billion litres of automotive gas oil (AGO), or diesel in Q4’18. It also stated that, 114.19 million litres of dual purpose kerosene (DPK), 267.80 million litres of aviation turbine kerosene (ATK), 50.73 million litres of base oil, 42.38 million litres of bitumen, 10.63 million litres of low pour fuel oil (LPFO) and 331.78 million litres of Liquefied Petroleum Gas (LPG) were imported into the country in Q4’18. Recall that the volume had declined to 4.79 billion litres in Q2’18 from 5.67 billion litres in Q1’18. It also declined further to 4.37 billion litres in Q3’18
The report further showed State-wide distribution of truck-out volume for Q4’18 as 5.17 billion liters of PMS, 1.16 billion litres of automotive gas oil (AGO), 81.12 million litres of household kerosene (HHK), 256.73 million litres of aviation turbine kerosene (ATK) and 137.53 million of Liquefied Petroleum Gas (LPG) were distributed nationwide during the period.
Petroleum products imports have been driven by poor state of Nigeria’s refineries.
Nigeria National Petroleum Corporation (NNPC) had couple of months ago revealed that none of Nigeria’s four refineries worked up to 50 per cent of their capacity at any time during 2018.
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