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Petrol Imports Dropped By 3.58bn Litres In One Year — NBS

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Importation of Premium Motor Spirit (PMS) also known as petrol dropped by 3.5 billion litres in the last year, data gathered from the National Bureau of Statistics (NBS) has shown.

In the latest petroleum products distribution statistics released by the agency on Tuesday, total petrol imports reduced to 20.30 billion litres in 2023 from the 23.54 billion litres recorded in 2022, showing a decrease of 13.77 percent year-on-year.

NBS also noted that petrol imports dropped by 3.58 billion litres in the second half of 2023 compared to the year’s first half.

It said the country imported 8.36 billion litres of Premium Motor Spirit (petrol) in H2 (first half) of 2023, a significant decrease from the 11.94 billion litres imported in H1 2023, marking a 29.99 per cent reduction.

It 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.

“In terms of imported products, 20.30 billion litres of Premium Motor Spirit were imported in 2023 relative to 23.54 billion litres in 2022, showing a decrease of 13.77 per cent. This downward trend is even more notable when compared to H2 2022.

“In the latter half of 2022, petrol imports stood at 11.98 billion litres, resulting in a 30.22 per cent drop when compared to H2 2023, equivalent to a reduction of 3.62 billion litres.”

A breakdown for the monthly volume of fuel imports in 2023 showed that 2.09 billion was brought in January, reduced to 1.99 billion in February, increased to 2.29 billion in March, 1.91 billion in April, and 2.01 billion in May.

It was 1.64 billion in June, 1.45 billion in July, 1.09 billion in August, 1.21 billion in September, 1.16 billion in October, 1.55 billion in November and 1.88 billion in December.

These figures highlight a drop in consumption across the country.

Similarly, the bureau stated that the volume of Automotive Gas Oil, also known as diesel imported into Nigeria, rose to 4.94 billion litres in 2023 from four billion litres in 2022.

The statistics also showed that 109.39 million litres of AGO was locally produced in 2023, representing a 6.76 per cent rise from 102.47 million litres produced in 2022.

“About 69.71 million litres of Household Kerosene were locally produced in 2023 compared to 44.68 million litres in 2022, indicating a growth rate of 56.02 per cent over the period.

“For Automotive Gas Oil, 109.39 million litres were locally produced in 2023, when compared to 102.47 million litres reported in 2022. This represents a 6.76 per cent growth rate.

“Also, 4.94 billion litres of Automotive Gas Oil were imported in 2023, indicating an increase of 23.66 per cent compared to four billion litres in the previous year,” It added.

BIG STORY

Protest Rocks PDP Secretariat Over Rivers Local Government Poll

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Protests erupted at the Peoples Democratic Party secretariat in Port Harcourt, Rivers State, on Thursday, as tensions rise ahead of the Local Government election scheduled for October 5, 2024.

The protesters, who arrived in large numbers at the party’s secretariat, forced security operatives to step in to control the crowd and manage traffic congestion in the area, reports Channels Television.

The unrest follows growing concerns over the delay in the release of the 2023 Voters’ Register by the Independent National Electoral Commission to the Rivers State Independent Electoral Commission.

Justice Peter Lifu of the Federal High Court in Abuja delivered a ruling on September 30, 2024, stating, “INEC was barred from releasing the voters’ register to RSIEC due to legal challenges.”

Despite the court ruling, Governor Siminalayi Fubara maintained that the election would go on as planned.

Fubara expressed confidence, citing the Supreme Court’s earlier ruling, which “mandated that all states in the federation must have democratically elected local government executives,” supports his position.

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25 Dead, 125 Missing In Niger State Boat Mishap

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The Niger State Emergency Management Agency (NSEMA) says 25 persons have died following the boat accident in Gbajibo community of Mokwa LGA.

On October 1, a boat conveying over 200 passengers to Gbajibo for the Mawlid celebration capsized.

In a statement on Wednesday, Abdullahi Baba-Arah, director-general of NSEMA, said the agency had earlier recovered nine bodies.

He said another 16 bodies were found during its latest rescue operation, adding that the victims are 4 females and 21 males.

The NSEMA DG added that the search is still ongoing to rescue the remaining 125 missing passengers.

Abdullahi Baba-Arah stated, “Sixteen corpses have been recovered so far, made up of two females and 14 males.”

He further explained, “NSEMA is leading the search-and-rescue operations in collaboration with the State Ministry of Transport, the Mokwa Local Government Emergency Committee, local divers, and community volunteers.

“The rescue efforts continue, as the state mourns the loss of those who perished in the tragic accident.”

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Emirates’ Return Will Open More International Routes For Local Airlines — Aviation Minister Keyamo

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Festus Keyamo, Minister of Aviation and Aerospace Development, says the return of Emirates will open more international destinations to local airlines.

Keyamo’s statement followed the return of Emirates, the United Arab Emirates (UAE) flag carrier, to Nigeria after two years.

Speaking on Wednesday in Lagos after arriving aboard an Emirates aircraft from UAE, Keyamo assured that the airline has returned to stay.

He also mentioned that the bilateral air service agreement (BASA) discussed was to secure the route for local operators.

Keyamo said, “With this, we have more competition on different international routes now. That is what it’s all about, to ensure a healthy competition.”

He further stated, “A healthy competition leads to competitive pricing for the benefit of the Nigerian people.”

Keyamo explained, “But you also know that why we fought for this, is that Dubai in particular, is a major hub of the world, it links virtually every country.”

Regarding code-sharing agreements, Keyamo said, “For our airlines too, I can tell you that we also secured some kind of code sharing agreement. We told them that if you want to code share, our airlines will have the right of first refusal.”

Keyamo applauded President Bola Tinubu’s support in the agreement and return of the airline, stating that the relationship between the two countries has been restored.

“The relationship went downhill with visa suspension and suspension of their flights for Nigerians, it was especially damaging, because we know that Nigerians have a lot of investments in the UAE,” Keyamo said.

He continued, “They have a lot of interest and investments there so, eventually it was not an adventure in self-glorification, it was actually a fight for the people of Nigeria especially.”

Keyamo also mentioned, “We signed a new BASA defining our relationship altogether, again making it more healthy, more open and for the benefits especially of the Nigerian people.”

Emirates suspended flight operations to Nigeria in November 2022 due to its inability to repatriate $85 million revenue trapped in the country.

Keyamo announced on April 8, 2024, that Emirates confirmed resolution of the issues and readiness to resume flights.

On September 27, Nigeria and the UAE agreed on reciprocal rights ahead of Emirates Airlines’ resumption.

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