An Avenue Used To Steal; As Nigeria Claims To Have ‘Imported $100.4Billion (N20.2tr) Worth Of Fuel In Five Years’

Nigeria spent N20.2 trillion ($100.4 Billion) to import petrol, diesel and kerosene between January 2010 and September 2015, the Nigerian Bureau of Statistics (NBS) has said.

Figures jointly compiled by both the NBS and the Petroleum Products Pricing Regulatory Agency (PPPRA) released at the weekend indicate that N12, 529, 746, 397, 978. 48 was spent on the importation of 102,374,588,480.91 litres of petrol (Premium Motor Spirit).

An amount of N6,450,576,065,479.43 was spent to import 16,679,065,103 litres of diesel (Automotive and Gas Oil).

Between January 2012 and September 2015, N1,271,500,290,241 was spent on the importation of 9,448,409,070 litres of kerosene.

That is about $100.4billion wasted funds...

Uganda last year sought investors to build $2.5billion refinery...

In 2013 Dangote signed $9bn deal to build oil refinery, petrochemical complex in Nigeria.

Instead of our federal government to build a world class refinery in our country or better still properly rehabilitate the deteriorated ones we have, they prefer to import fuel..

If you ask me, I say its just an avenue to steal/launder  more money.... 

The Real Nigeria...