A huge downfall in the import of petrol has been recorded in Nigeria. The reduction witnessed is from 14 billion litres in 2015, to 4.89 billion litres in 2016, in accordance to the facts given out by National Bureau of Statistics (NBS).
Reduction in import of petrol was the result of federal government’s ongoing reform of the downstream sector. It played a significant role in eliminating the fraud prevailing in the system. It is also believed that there could be more reduction recorded in the import of petrol further, if government put in efforts to restructure the local refineries.