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Refineries Not Enough: NNPC, Oil Marketers Import N5.5 Trillion Worth of Fuel in 4 Months
NNPC leads marketers to import fuel.
The amount translates to about 4.29 billion litres of PMS and 1.153 billion litres of diesel when converted at 1,342 litres per metric tonne for PMS and 1,176 litres per metric tonne for diesel.
According to reporting by ThisDay, the total value of Nigeria’s petrol and diesel imports in the four months exceeded N5.5 trillion, based on current average landing costs.
Legit.ng earlier reported that in January, NNPC and marketers imported a combined 633 million litres of PMS and diesel. The report said marketers including BOVA, Eterna Oil, Rainoil and other dealers participated in the imports, alongside the state oil company. Experts are worried that Nigeria’s continued dependence on fuel imports shows its reliance on foreign fuel as it plans to boost domestic refining capacity.
