Importation of Premium Motor Spirit (PMS) otherwise known as petrol, gulped N2.52 trillion between January and September 2021.
The National Bureau of Statistics (NBS) disclosed this in its latest foreign trade report.
The amount spent shows an increase of 55.6 per cent from the N1.62 trillion spent within the same period in 2020.
“Petrol’s N2.52 trillion import bill for the first nine months of this year is 47.37% and 25.37% higher than what the amount country spent on PMS imports in the whole of 2019 and 2020 respectively.
“Nigeria spent N2.01trillion on petrol imports in 2020, compared to N1.71trillion in the previous year. Petrol imports gobbled up N1.05trillion in the third quarter of this year, up from N782.46billion in Q2 and N687.74billion in Q1.
“Petrol top the list of products imported into the country in Q3, accounting for 12.52% of the total amount spent on imported products, up from 11.26% in the previous quarter,” the report showed.
