5.32 Billion Litres Of Petrol Imported In Q4, 2018 – NBS

The NBS made the disclosure in its Petroleum Products Imports and Consumption (Truck Out) Statistics for fourth quarter 2018 posted on its website. It also reported that 1.3 billion litres of diesel, 114.19 million litres of kerosene and 267.80 million litres of aviation fuel were imported during the period.

Shell pays Fed Govt, agencies $6.397b

Over $6.397 billion was paid to the Federal Government and its agencies in 2018 by Shell exploration and production companies in Nigeria. The payment represents a 48 per cent increase over payments ($4.322 billion) by the companies. The facts formed part of the four documents released yesterday by the Group Chief Executive Officer of the Royal Dutch Shell, Ben Van Beurden, to signal the firm’s renewed commitment to greater transparency.

Nigeria spends N10trn on petrol subsidy

A research report by BudgIT, a public finance focused Non-Governmental Organisation, NGO, said this amount came from the price shocks in the international energy market as well as the exchange volatility. However, the report also indicated that the subsidy regime has opened Nigeria’s public finance to huge corruption and illegal exportation of petroleum products to neighboring countries.

NNPC begins rehabilitation of Port Harcourt Refinery

The exercise, flagged–off by an elated Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation, NNPC, at a formal kick–off meeting in the premises of the refinery in Port Harcourt, came 19 years after the last turn around maintenance, TAM, exercise of the nation’s premier refining plant.

How oil marketers cheat Nigerians by N198,500 per truck of product sold

Mr Mohammed  Sidi, Director, Weights and Measures Department, Federal Ministry of Industry, Trade and Investment, says that oil dealers have  been cheating Nigerians of N198,500 per truck sold. Sidi said this in Abuja on Wednesday during a surveillance activity of the department to some fuel stations.

Nigeria imports 1.3 billion litres of fuel in two months

Nigeria, in January and February, imported a total of 986, 492 metric tonnes of petroleum products representing 1,387,410,984.2 litres of fuel, data from the Nigerian Ports Authority Shipping Position revealed. Frozen fish topped the nation’s imports for the month of February, as the country reportedly imported 2.463 million metric tonnes of the product in the month under review.

Nigeria Among Top 10 Cheapest Petrol Selling Countries

Okri explained that despite the fact that Nigeria is not one of the top ten oil producing countries in the world right now, Nigeria is one of the top ten cheapest selling countries in the world. "This is coming on the heels of international reports that petrol now sells for an equivalent of N1204 per litre and diesel N1135 in Zimbabwe. The five countries listed in the report with a better price per litre of Petrol than Nigeria are Venezuela ($0.01), Sudan ($0.13), Iran ($0.29), Kuwait ($0.34), and Algeria ($0.35).