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Petrol imports dropped by 3.58bn litres after subsidy removal – NBS

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The National Bureau of Statistics has stated that Nigeria recorded a reduction in petrol importation following the removal of fuel subsidy by President Bola Tinubu in May 2023.

It also said the total of fuel imports reduced to 20.30 billion litres in 2023 from the 23.54 billion litres recorded in 2022, showing a decrease of 13.77 per cent year-on-year.

It disclosed this in the latest petroleum products distribution statistics released by the agency on Tuesday, as it 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.

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“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 the impact of the subsidy removal on the volume of petrol imported into 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.

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“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.

Upon assumption of office on May 29, President Tinubu during his inauguration speech announced a total removal of subsidy on petrol price.

Shortly after, fuel prices soared across Nigeria, with some stations selling PMS at prices as high as N700 per litre.

According to the 2023 full-year foreign trade data, Nigeria’s spending on fuel import decreased by approximately 2.6 per cent, from N7.7tn in 2022 to N7.5tn in 2023.

In terms of semi-annual comparison, the country incurred N3.5tn in fuel importation costs in the second half of 2023, representing a 10.26 per cent decrease compared to the N3.9tn recorded in the first half of the year.

Also, in the first six months of 2024, the country’s petrol import bill stood at N5.8tn.

When compared to the same period of 2023, the country’s petrol import bill increased by 87.09 per cent from N3.1tn

See also  British ministers, businesses responding 'very positively' to Tinubu’s decisions – High Commissioner

The Minister of Information, Idris Mohammed, earlier said that Nigeria’s domestic consumption dropped by 50 per cent from two billion litres following the removal of fuel subsidy.

Mohammed said that the decline in importation suggests that these imports are being redirected to destinations other than Nigeria.

The subsidy removal has sparked significant controversy. While the government argues that it was necessary to allocate resources to essential sectors like healthcare, education, and infrastructure, economists contend that it unfairly impacts lower-income Nigerians.

Many have voiced concerns over the sharp increase in living costs due to rising fuel prices.

Additionally, there is ongoing debate about whether the subsidy has truly been abolished, as reports indicate that the Nigerian National Petroleum Company Limited may still be incurring costs related to fuel imports.

The situation escalated when it was revealed that the NNPC sought financial assistance from the federal government for fuel import costs, despite the subsidy removal.

This has raised doubts about the transparency of the government’s subsidy policy and the effectiveness of its implementation.

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UK bars Nigeria, Ghana-trainedteachers from teaching qualification list

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The UK Department for Education (DfE) has barred teachers trained in Nigeria and Ghana from applying for the Qualified Teacher Status (QTS) in England through the United Kingdom’s overseas-trained teacher application route.

The DfE said the change took effect on September 9, 2026, following a review of the countries whose teachers remain eligible under the scheme.

Under the QTS route, applicants are generally required to hold a valid and unexpired passport, an undergraduate degree equivalent to a UK bachelor’s degree and professional recognition as a teacher in the country where they completed their training.

Applicants must also have completed all mandatory induction requirements needed to obtain full teacher registration in their country of qualification.

The DfE said applicants’ teaching qualifications and professional experience are assessed against strict requirements before QTS is awarded.

According to the department, an eligible country must have a national regulator capable of confirming a teacher’s professional standing and providing authenticated references.

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It said Nigeria and Ghana were removed from the eligibility list after failing to meet the requirement.

“Our data shows that more than 70% of applications from teachers in Ghana and Nigeria include work history references that use public email addresses, such as Gmail or Hotmail, rather than a school’s official email domain,” the department said.

“This means assessors spend additional time and resources trying to verify information provided in applications.”

The UK education department said about 90 per cent of applications are assessed within 12 months.

India was also removed from the list after the DfE determined that it did not have a national regulator capable of confirming applicants’ professional standing.

With the latest changes, South Africa is now the only African country remaining on the list of countries whose teachers can apply through the overseas-trained teacher route.

Explaining the requirement for reliable verification, the department said: “We must be confident that the information applicants provide is genuine. This helps ensure that overseas teachers awarded qualified teacher status have the skills and experience needed to teach in schools in England.”

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Good morning! Nigerian Newspapers Headlines: President extends working leave till weekend

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1. President Bola Ahmed Tinubu has extended his working vacation in Europe by a few days and will return this weekend, the Presidency announced yesterday.

But African Democratic Congress (ADC) Presidential candidate Atiku Abubakar and his party protested the extension.

The party even threatened a legal challenge to the action

2. The Nigeria Security and Civil Defence Corps, Lagos State Command, has smashed an illegal factory in the Badagry area of Lagos State, where adulterated fruit juice branded as “Barkas Juice” was allegedly being produced. Two women were arrested in connection with the operation. The command’s Public Relations Officer, Oluwaseun Abolurin, disclosed in a statement on Monday that the suspects were arrested after operatives from the Badagry area conducted about five days of surveillance in collaboration with a Nigerian Army formation in the area.

3. Lateef Fagbemi, attorney-general of the federation (AGF) and minister of justice, has asked the federal high court in Abuja to dismiss the fundamental rights enforcement suit filed by Nasir el-Rufai, former Kaduna governor, against the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
During proceedings on Monday, the AGF, who was represented in court by Maimuna Lami-Shiru, a lawyer from the federal ministry of justice, said he had filed a counter-affidavit challenging el-Rufai’s suit.

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4. Parents and community members of Mussa and Lassa in Askira/Uba Local Government Area of Borno State on Monday threatened to storm the Presidential Villa in Abuja within six days if their abducted children are not rescued from Boko Haram captivity. The distressed families, whose children have now spent more than 130 days in the hands of insurgents, expressed their frustration during a protest over the government’s perceived inaction in Askira/Uba.

5. The Nigerian Air Force has taken a major step towards the acquisition of 12 AH-1Z Viper attack helicopters following a beam-signing ceremony with Bell Textron in Amarillo, Texas, United States. The Chief of the Air Staff, Air Marshal Sunday Aneke, led a NAF delegation to the ceremony, which marked a significant milestone in the implementation of the Nigeria-United States Government defence cooperation programme.

6. Staff of Federal Unity Colleges nationwide defied the Federal Government’s directive to resume academic activities on Monday, insisting that their indefinite strike over the concession of King’s College, Lagos, remains in force. During visits to some Unity Colleges in Lagos and Ibadan on Monday, staff union members were sighted in front of the school gates, while parents largely stayed away despite the Federal Government’s resumption directive.

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7. The Abia State Police Command has arrested four suspects for allegedly stealing a four-day-old baby from its mother, who is mentally challenged, and selling the infant to another person. The Police Public Relations Officer, Maureen Chinaka, disclosed this in a statement on Monday. She identified the suspects as Gladys Nathaniel, 48; Victor Udochukwu, 47; Chijioke Obunwa, 59; and Onyeonoro Chinwe, 43.

8. Minister of the Federal Capital Territory, Nyesom Wike, has revealed how the G-5 governors strategically worked against the presidential ambition of the Peoples Democratic Party candidate, Atiku Abubakar, in the South-South during the 2023 election.
Wike disclosed this on Monday during an interview on TVC’s Journalists’ Hangout where he explained that the G-5 identified Atiku and the strength of the PDP in the region as a major concern and decided to allow Labour Party candidate Peter Obi to win some states.

9. Kwara State All Progressives Congress’ (APC’s) governorship candidate for the 2027 general election, Yakubu Salihu, now has a new running mate. He is Oluwaseun Ogunniyi aka Adato. Ogunniyi represents Ojomu/Balogun Constituency in the House of Assembly. He hails from Offa in Offa Local Government

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10. The Plateau State Government has imposed a dusk-to-dawn curfew on Barkin Ladi, Bokkos and Mangu Local Government Areas of the state following attacks and killings in the LGAs. It was gathered that more than 20 people, including women and children, were killed in Mangu, Barkin Ladi, Bokkos and Riyom LGAs within two days. Many houses were also burned in the attacks.

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Shettima lands in New York as leader of Nigeria’s delegation at 81st UNGA

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Vice President Kashim Shettima has arrived in New York, United States, to represent President Bola Ahmed Tinubu and lead Nigeria’s delegation to the 81st Session of the United Nations General Assembly (UNGA).

The delegation’s participation will focus on advancing Nigeria’s national interests, strengthening multilateral cooperation and supporting President Tinubu’s call for reforms of global institutions to reflect current economic and demographic realities.

According to the Vice President, Nigeria would use its engagements at the global gathering to advocate a more representative and equitable international system, particularly for developing countries.

“Our message in New York is clear: Nigeria believes in multilateralism, but the institutions that govern our world must become more representative, equitable and responsive to the realities of today,” Shettima said.

Shettima added that Nigeria would engage its international partners from the standpoint of its national interest while pushing for greater opportunities for developing countries.

See also  Why Buhari didn’t remove petrol subsidy — Femi Adesina

“We will engage our partners firmly from the standpoint of Nigeria’s national interest, while advancing President Bola Ahmed Tinubu’s call for a global system that gives developing countries a stronger voice and a fairer opportunity to prosper,” he said.

The 81st UN General Assembly brings together world leaders and senior government officials to deliberate on global challenges, international cooperation and issues affecting peace, development and economic prosperity.

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