Nigeria spent N1.239 trillion on import of Premium Motor Spirit (PMS), also known as petrol in 2015, National Bureau of Statistics (NBS) has said.
Not surprisingly, a coalition of civil society organisations (CSOs) has accused individuals and groups kicking against the re-organisation of Nigerian National Petroleum Corporation (NNPC) as cabals who are bent on frustrating efforts to end the prolonged fuel import-dependency and crises witnessed across the country.
In its Foreign Trade Statistics for the Fourth Quarter of 2015, NBS said that the amount spent on fuel import in 2015 represented an increase of 3.08 per cent or N37 billion compared to N1.202 trillion spent in the importation of fuel in 2014.
The 2015 figure also represented 367.55 per cent increase or N974 billion higher than the 2013 fuel imports figure of N264.85 billion.
Giving a breakdown of the 2015 figures on a quarterly basis, NBS said that in the first quarter of 2015, the country spent N288.871 billion to import petrol, while in the second quarter, the country spent N389.257 billion. In the third quarter, the country spent N250.329 billion; while in the fourth quarter, N310.866 billion was expended.
On a month-by-month basis, in the months of January to June, the country spent N49.2 billion; N105.973 billion; N133.697 billion; N139.237 billion; N133.793 billion and N116.227 billion respectively on the fuel import.
From July to December 2015, N134.14 billion, N85.451 billion, N30.737 billion, N68.083 billion, N120.519 billion and N122.263 billion respectively were spent on it.
Furthermore, the report explained that the bulk of Nigeria’s PMS and other products imports were from Asia, as it spent N2.833 trillion on imports from the continent. Europe followed on the chart, as Nigeria imported goods valued at N2.502 trillion; while it spent N871.275 billion on imports from the Americas, and total imports from Africa stood at N420.379 billion, with ECOWAS countries accounting for N213.768 billion of trade with the continent.
Further breakdown of imports from Asia showed that Nigeria’s imports from Japan, India and China stood at N89.74 billion, N408.572 and N1.567 trillion respectively. In the case of Europe, imports from Germany stood at N210.36 billion; UK accounted for N283.759 billion; Netherlands – N415.404 billion, while imports from Italy, France and Spain stood at N157.457 billion, N157.187 billion and N140.074 billion respectively.
In the Americas, Nigeria spent N581.996 billion, N49.725 billion and N171.462 billion on imports from USA, Canada and Brazil respectively. In addition, data from the report also pointed out that the country’s import from countries in Oceania stood at N71.133 billion in 2015.
However, “The total value of Nigeria’s merchandise trade during the fourth quarter of 2015 stood at N3.653 trillion, 9.2 per cent lower than N4.021 trillion recorded in the preceding quarter.
For the 2015 calendar year, the country’s total trade was N16.427 trillion, amounting to N7.252 trillion or 30.6 per cent less than the total trade value recorded for 2014.
“This development arose largely due to sharp decline in the value of exports from N16.304 trillion in 2014 to N9.729 trillion in 2015, a decline of 40.3 per cent. A decrease of N676.4 billion or 9.2 per cent in the total imports in 2015 helped to mitigate the declining trade balance, which stood at N3.031 trillion, N5.899 trillion less than the value in 2014.
“The crude oil component of total trade decreased by N4.946 trillion or 41.6 per cent as against the level recorded in 2014. The value of Nigeria’s imports stood at N1.576 trillion at the end of fourth quarter 2015. This was 6.6 per cent less than the value (N1.688 trillion) recorded in the preceding quarter. Comparison with the corresponding quarter of 2014, showed a decrease of N454.6 billion or 22.4 per cent.”
Cabals seek to prolong fuel imports, crises – CSOs
Meanwhile, a coalition of civil society organisations (CSOs) has described individuals kicking against the re-organisation of the Nigerian National Petroleum Corporation (NNPC) as cabals who are bent on frustrating efforts to end the prolonged fuel crisis witnessed across the country.
The group, under the aegis of Children and Women’s Rights Network, in a statement in Abuja, expressed support for the restructuring of the NNPC, saying it will help increase productivity and efficiency while denying corrupt persons and unscrupulous cabals a foothold in the on-going process.
The statement by its Executive Director Moses Adedeji, lamented that these cabals are faceless but determined forces unnerved by ceaseless monitoring.
It added that the involvement of security agents in tackling pipeline vandalism and fuel distribution, are now mounting strategic challenges towards ensuring that fuel scarcity is prolonged.
According to Adedeji, since the former managing director of the PPMC, Esther Nnamdi-Ogbue’s declaration of December 27, of involving the Economic and Financial Crimes Commission (EFCC), the Department of State Security (DSS) and other security agencies, some high-level oil sector cabals have mounted a subtle but disingenuous campaign against her.
The group stressed that Nnamdi-Ogbue’s approximately three decades of work experience in NNPC’s organisational structure and her academic accomplishments do not reflect any form of soiled record.
The group noted that less than 24 hours after her appointment as Managing Director of NNPC’s Retail, powerful cartels involved in the illegal diversion of fuel have stepped up their revenge mission against Nnamdi-Ogbue, whose new ideas are truncating their illegal business, by using faceless platforms to call for her removal.
The group said: “During her December 27, 2015 official visit to Mosinmi Depot and Ajebo pipeline in Obafemi Owode local government area of Ogun state, she explicitly stated, ‘We are looking at all ramifications of how to bring these criminals to book; they have to be treated as criminals and pipeline products thieves’.”
-Vanguard
