The country’s monthly petrol import was decrease by about 1 billion litres following the removal of fuel subsidy in June by President Bola Tinubu.

A report by the National Bureau of statistics shows that the country accept fuel importation of 2.09 litres in January 2023, while 1.99 billion litres was ship in February of the same year.

It was 2.29 billion litres in March; 1.91 billion litres in April and 2.01 billion litres in May last year.

Wakadaily reported that President Tinubu removed the subsidy on Premium Motor Spirit on may 29,  having a notable effect on the importation of the product the following month.

It was gathered that the quantity of PMS ship in June, the first post-subsidy months, reduce to 1.64 billion litres.

The descending sink got deeper in July while the import was decreased to 1.45 billion litres

Petrol imported into the country by August was down to 1.09 billion, a reduction of over 1 billion litres year-on-year from the 2.23 billion litres imported in August 2022.

The NBS  announced that Nigeria did not produce a litre of PMS locally in 2021, 2022, and the first half of 2023.

Although, diesel and kerosene were construct locally during that time , due to lack of functioning oil refineries.

In the climax for the Petroleum Products Distribution Statistics Half Year 2023, the NBS said in H123023, PMS truck out stood at 11.48 billion litres, recommend a 5.83 per cent decreased when compared to 12.19 billion noted in the first half of 2022.

Also, 26.07m litres of kerosene were locally construct liken  to 22.33m litres in the first half of 2022.

Automotives Gas Oil (diesel) , 55.48m litres were build in the first half of 2023, higher compared to 50.19m litres reported the previous year.

Though the 11.94 billion litres of PMS imported in H12023 was higher compared to 11.56 billion litres in H12022, the drop in June, July and August testified to the effect of the subsidy removal as the Nigerian National Petroleum Company remains the only importer of fuel at the moment.