{"id":312930,"date":"2025-12-12T23:42:10","date_gmt":"2025-12-12T23:42:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/312930\/"},"modified":"2025-12-12T23:42:10","modified_gmt":"2025-12-12T23:42:10","slug":"nigeria-imports-n5-3trillion-fuel-in-nine-months-under-tinubu-government","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/312930\/","title":{"rendered":"Nigeria Imports N5.3trillion Fuel In Nine Months Under Tinubu Government"},"content":{"rendered":"

A SaharaReporters’ review of Nigeria\u2019s foreign trade statistics for the first three quarters of 2025, covering January to September, has shown that the country imported fuel worth N5.3 trillion.<\/p>\n

\"for<\/p>\n

According to data released by the National Bureau of Statistics (NBS), between January and March (Q1 2025), Nigeria spent N1.76 trillion on the importation of Motor Spirit Ordinary (fuel).<\/p>\n

A further review of the recently released Q2 2025 foreign trade statistics shows that fuel importation rose to N2.37 trillion between April and June.<\/p>\n

Between July and September, another N1.2 trillion was spent on petroleum importation.<\/p>\n

In total, Nigeria spent N5.3 trillion on fuel importation in the first three quarters of 2025.<\/p>\n

Earlier, a SaharaReporters’ review showed that between October and December 2024 (Q4 2024), the total value of imported refined petroleum stood at N3.303 trillion.<\/p>\n

\"for\n<\/p>\n

This represented an additional N1.496 trillion spent on refined petroleum imports in Q4 2024 compared to the same period in 2023.\u00a0<\/p>\n

The figure was also significantly higher than the amounts recorded in the last quarters of previous years: N1.558 trillion in Q4 2022, N1.443 trillion in Q4 2021, and N574.8 billion in Q4 2019.<\/p>\n

This ongoing reliance on fuel imports contradicts the Bola Tinubu-led government\u2019s promise to end fuel importation by February 2024.\u00a0<\/p>\n

Refined petroleum imports continue to be a major drain on Nigeria\u2019s foreign exchange reserves, exerting pressure on the country\u2019s currency.<\/p>\n

Previously, SaharaReporters reported that the Nigerian National Petroleum Company Limited (NNPCL) financial statement for the year ended December 2024 shows that the country’s refineries despite not being operational are highly indebted.<\/p>\n

\"for\n<\/p>\n

For instance, Port Harcourt Refinery Company Limited owes N4.2 trillion, while Kaduna Refinery and Petrochemical Company Limited owes N2.3 trillion, and Warri Refinery and Petrochemical Company Limited owes N2.055 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"A SaharaReporters’ review of Nigeria\u2019s foreign trade statistics for the first three quarters of 2025, covering January to…\n","protected":false},"author":2,"featured_media":312931,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[3711,390,84,11764,1294,96,80,66006,8720,229,101,56,54,55],"class_list":["post-312930","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-africa","tag-breaking-news","tag-business","tag-corruption","tag-economy","tag-entertainment","tag-government","tag-investigative-reporting","tag-nigeria","tag-politics","tag-sports","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/312930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=312930"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/312930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/312931"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=312930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=312930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=312930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}