Business News

Nigeria’s 12.6% Drop in Petrol Imports Explained

Rising Diesel Demand: Nigeria’s Fuel Import Trends 2023

Nigeria’s petrol imports have decreased by 12.6%, dropping to 20.29 billion liters in 2023 from 23.24 billion liters the previous year.

This reduction reflects a shift in the country’s fuel import landscape, likely driven by a combination of local fuel production initiatives and changing market demands.

Conversely, diesel imports have risen significantly, with Automotive Gas Oil (AGO) imports increasing to 4.94 billion liters from 3.99 billion liters during the same period.

This surge in diesel demand aligns with a broader trend of growing reliance on domestic production for certain fuel types, such as diesel and kerosene

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