Connect with us

News

Nigeria’s petrol imports jump by 55%, hit N2.52tn in nine months

Published

on

The cost of Premium Motor Spirit, also known as petrol, imported into Nigeria from January to September this year surged by 55.56 per cent to N2.52tn from the N1.62tn spent in the same period of 2020.

The development came amid the Federal Government’s plan to remove subsidy from petrol by February next year.

Already, oil marketers have begun plans to resume importation of the PMS as soon as the government deregulates the downstream sector of the petroleum sector in the first quarter of 2022.

Petrol’s N2.52tn import bill for the first nine months of this year is 47.37 per cent and 25.37 per cent higher than what the amount country spent on PMS imports in the whole of 2019 and 2020 respectively, data obtained from the National Bureau of Statistics show.

Buoyed by the rally in global oil prices, the jump in the country’s petrol import bill comes amid growing concerns over the shortage of foreign exchange in the country.

Nigeria relies wholly on imports to meet its fuel needs as its refineries have remained in a state of disrepair for many years despite several reported repairs.

Advertisement

The country spent N2.01tn on petrol imports in 2020, compared to N1.71tn in the previous year.

Petrol imports gobbled up N1.05tn in the third quarter of this year, up from N782.46bn in Q2 and N687.74bn in Q1, according to the NBS data.

The data also showed that petrol topped the list of products imported into the country in Q3, accounting for 12.52 per cent of the total amount spent on imported products, up from 11.26 per cent in the previous quarter.

It was reported on Tuesday that the Nigerian National Petroleum Corporation put the amount spent on subsidising petrol from January to October 2021 at N1.03tn.

The subsidy, which the NNPC prefers to call ‘value shortfall’ or ‘under-recovery’, resurfaced in January this year as the government left the pump price of petrol unchanged at N162-N165 per litre despite the increase in global oil prices.

Advertisement

The Federal Government had in March 2020 removed petrol subsidy after reducing the pump price of the product to N125 per litre from N145 following the sharp drop in crude oil prices.

The NNPC, which has been the sole importer of petrol into the country in recent years, has been bearing the subsidy cost since it resurfaced.

The corporation supplied a total of 6.3 billion litres of petrol in the first four months of 2021, according to data collated from its monthly reports.

“The corporation has continued to diligently monitor the daily stock of PMS to achieve smooth distribution of petroleum products and zero fuel queue across the nation,” it said in its latest monthly report.

Oil marketers, experts blame naira devaluation, crude oil price, smuggling
Top officials of two marketers’ associations, who spoke with our correspondent in separate interviews, attributed the surge in petrol imports to oil price rally, smuggling of petrol to neighbouring countries and naira devaluation.

Advertisement

The international oil benchmark, Brent crude, which tumbled to as low as $22 per barrel last year, rose to a high of $85.43 per barrel on October 22 this year.

In May, the Central Bank of Nigeria devalued the naira to N410.25 per dollar. The CBN had kept the official exchange rate at N379/$1 since August 2020, when the naira was devalued for the second time last year from 360 per dollar. It was first devalued to 360/$1 in March 2020 from 306/$1.

The Executive Secretary/Chief Executive Officer, Major Oil Marketers Association of Nigeria, Mr Clement Isong, said, “In 2020, we had COVID with all the lockdown, so I imagine that volume this year would be more than that of last year. The second point is that last year, the price of crude was very low; this year, it has been rather high. Last year, it went as low as $20 per barrel; this year, it has gone as high as $80.

“Finally, the exchange rate of the dollar to the naira was significantly lower than what it is this year. I have no doubt that smuggling has continued. Last year, the price of petrol came down in Nigeria, but it remained at N350, N360, N380 and N400 in the neighbouring countries.”

The National Operations Coordinator, Independent Petroleum Marketers Association of Nigeria, Michael Osatuyi, lamented that the inability of the country to produce petrol locally.

Advertisement

“We are 100 per cent import-dependent, but a country that imports 100 per cent is in a big problem,” he said, adding that the Dangote refinery would come to the country’s rescue when it comes on stream.

“Our products are smuggled to all the neighbouring countries because they are cheaper. If we don’t deregulate the downstream oil sector and crude oil price continues to go up, Nigeria’s petrol imports figure will double next year because,” he said.

In a related development, Nigeria, Africa’s largest oil producer, produced 1.44 million barrels per day in November, a rise of 70,000 bpd from the previous month, as output from Bonny Light and Erha fields rebounded, according to the latest S&P Global Platts survey.

This was, however, still 210,000 bpd below the November quota given to Nigeria by the Organization of the Petroleum Exporting Countries as the country’s output continued to be under pressure from technical and operational issues.

OPEC and its allies boosted crude oil production by 500,000 bpd in November, with 80 per cent of the increase attributed to five members – Saudi Arabia, Russia, Iraq, Kazakhstan and Nigeria, the survey found.

Advertisement

OPEC’s 13 countries pumped 27.85 million bpd, up 300,000 bpd from October, while Russia and eight other partners produced 13.86 million bpd, up 200,000 bpd, the survey found.

The collective OPEC+ output of 41.71 million bpd was the group’s highest in 19 months, but still 4.15 million bpd below what it pumped in April 2020, when Saudi Arabia and Russia launched an oil price war.

This comes as some of the coalition’s members like Angola, Malaysia, Nigeria and Equatorial Guinea still struggle to pump as many barrels as they had promised due to natural declines and disruptions.

The 19 members with production quotas under the OPEC+ accord were a combined 520,000 bpd below their allocations for the month, bringing compliance to 112.31 per cent from 113.21 per cent in October, the survey found.

Saudi Arabia was once again the biggest mover in the month, adding 100,000 bpd to an oil market still sensitive to demand uncertainties.

Advertisement
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Governor sacks Special Advisers, Senior Special Assistants, Others In Cabinet shake-up 

Published

on

Governor AbdulRahman AbdulRazaq of Kwara State has approved a cabinet reshuffle that affects all Special Advisers, Advisers, Senior Special Assistants, Special Assistants, as well as the Deputy Chief of Staff and the Principal Private Secretary.

The development was announced in a statement issued on Monday by the governor’s Deputy Chief Press Secretary, Mashood Agboola, who described the move as a minor cabinet shake-up.

“Kwara State Governor, AbdulRahman AbdulRazaq has approved a minor cabinet shake-up involving all Special Advisers, Advisers, Senior Special Assistants, and Special Assistants,” the statement read.

According to the statement, the decision was taken to create opportunities for more members of the ruling party and bring renewed energy into the administration.

The statement noted that the exercise also affects the Deputy Chief of Staff and the Principal Private Secretary to the Governor.

It added that the governor expressed appreciation to the affected appointees for their service to the state and wished them success in their future endeavours.The statement further said the governor directed all affected officials to hand over government property in their possession to the Office of the Secretary to the State Government.

The reshuffle comes as part of efforts by the AbdulRazaq administration to reconstitute parts of its team while broadening participation within the government.

Continue Reading

News

1.34 million Nigerians denied UK visas in 21 years

Published

on

The United Kingdom rejected at least 1,344,595 Nigerian visa applications between 2005 and the first quarter of 2026, official Home Office data reveals.

The rejection rate places Nigeria second globally in total visa refusals, behind only India and ahead of Pakistan and China, among others, as Nigerians alone accounted for 44.4 per cent of all UK visa rejections across Africa in the period.

Over the 21-year period, the UK also granted 2,723,558 visas to Nigerians, making it the third-highest total issued to any nationality in the world, behind only India and China.

The data showed that Nigeria was the largest single recipient of UK entry clearance visas in Africa, ahead of South Africa (1,638,538) and Egypt (695,606).

The figures are drawn from the UK Home Office’s entry clearance visa outcomes datasets, covering the first quarter of 2005 through the first quarter of 2026, obtained by The PUNCH from the UK government’s immigration system statistics data tables published in 2026.

The dataset covers all decisions across visitor, study, work, family, and other visa routes.

For Nigeria, the cumulative refusal rate over the 21-year period stood at 33.1 per cent, more than double the UK’s global average of 14.8 per cent.

Of the approximately 4.09 million Nigerian applications submitted, 4,068,153 received issued or refused decisions.

Nigeria’s 1.34 million refusals accounted for 15.2 per cent of all 8,829,638 UK visa refusals worldwide.

Over the two decades, approximately one in every seven UK visa rejections went to a Nigerian applicant, even as Nigerians submitted just 6.8 per cent of all global applications.

Visitor visas dominated both the grants and the rejections. Of the 1,344,595 refused applications for Nigerians, 1,127,088, or 83.8 per cent, fell in the visitor category, which carried a 37.1 per cent refusal rate over the full period.

Study visa rejections totalled 130,712 at a 20.5 per cent rate, work visa rejections amounted to 41,410 at 16 per cent, and family refusals were 12,217.

In 2025, visitor visa refusals alone stood at 66,143, against 105,039 issued, at a 38.6 per cent rejection rate.

By the first quarter of 2026, 13,779 visitor visa applications had already been refused at 37.5 per cent.

The period with the sharpest refusal rate was the mid-2000s, where, in 2006, the UK turned down 117,968 Nigerian applications, a rate of 49.6 per cent.

Refusals had also reached 111,058 in 2005 at a 44.4 per cent rate.

The numbers improved over the ensuing decade, with the refusal rate falling to 26.2 per cent in 2011 and eventually reaching its recent low of 21 per cent in 2023, when a post-pandemic surge drove a record 281,658 visa grants to Nigerian applicants.

It was the highest single-year total in the dataset, preceded by 249,332 grants in 2022.

However, the high acceptance rate did not last. In April 2024, the UK raised the minimum salary threshold for Skilled Worker visas from £26,200 to £38,700, a 48 per cent increase, and restricted dependent visa rights for students and care workers, which cut application volumes.

Nigeria’s work visa applications fell by about 68 per cent in 2024 after the salary threshold review rendered many previously qualifying roles ineligible, according to analysis by immigration research firm Intelpoint.

In 2024, 77,706 Nigerians were refused at a rate of 33.5 per cent, and in 2025, 77,571 were refused at 33.1 per cent.

By the first quarter of 2026, 16,692 had been refused at 35.4 per cent, higher than either of the preceding two full years.

In Africa, Nigeria topped the list of nationalities with the most UK visa rejections.

Of the 3,027,198 total UK visa refusals for all African nationalities over the period, Nigeria’s 1,344,595 constituted 44.4 per cent.

Ghana ranked second among African countries with 374,108 refusals at a 40.5 per cent rate, followed by Algeria (191,903 refusals at 41.7 per cent rate), Egypt (134,055 at 16.2 per cent rate), Zimbabwe (102,246 at 26 per cent rate), Morocco (93,722 at 22.2 per cent rate), Kenya (75,973 at 18.8 per cent rate), Uganda (64,759 at 34.9 per cent rate), South Africa (61,521 at 3.6 per cent rate), and Sudan (59,069 at 31 per cent rate).

Across all nationalities, the UK processed 60,063,475 visa applications between 2005 and Q1 2026, issuing 50,873,344 and refusing 8,829,638.

African applicants submitted 11,433,508 of those visa requests, making up nine per cent of the global total, yet received 3,027,198 refusals, representing 34.3 per cent of all UK rejections worldwide.

African nations accounted for nearly double the share of applications, yet generated only about half the volume of refusals.

Nigeria alone submitted 35.7 per cent of all African applications and claimed 32.7 per cent of all UK visas issued to Africans.

The UK entry clearance visa system requires citizens of non-exempt countries, including Nigeria, to obtain formal permission before arrival.

Under the points-based immigration framework introduced in 2008 and expanded after Brexit, applicants must demonstrate financial solvency, genuine intent to visit, and sponsorship for work and study routes.

Visitor visa decisions, which remain the most contested category, depend on entry clearance officers’ assessment of financial evidence and the applicant’s ties to their home country.

These criteria, reports say, have historically led to higher refusal rates among applicants from economies classified as high-emigration risk.

In the year ending September 2025, Nigerians ranked among the top five nationalities submitting asylum claims after entering the UK on a valid visa.

The Home Office said this pattern has led it to tighten controls on its visa and asylum grants to Nigerians.

Speaking to our correspondent, a former Nigerian Ambassador to Singapore, Ogbole Amedu-Ode, said the inclination to leave the country largely stems from Nigeria’s struggling economy, with many citizens taking the Japa route.

He argued that the japa trend may only be reduced by significant economic improvement in the nation.

“The urge to travel out of the country is, in itself, primarily a function of the performance of our national economy. The economic doldrums have pushed compatriots into Japa mode.

“The trend may, unfortunately, increase until there’s a turnaround in the performance of the national economy,” the ex-diplomat noted.

He said while the number of visa rejections is worrisome, the sheer volume of approvals balances it out.

Amedu-Ode added, “Even then, the simultaneous increase in approvals and rejection is a function of the spike in the number of our compatriots applying to travel to that zone of the world.”

Continue Reading

News

Army Reshuffles Top Command, Appoints New GOCs, Commander

Published

on

The Nigerian Army has announced a major reshuffle of its senior officers, with changes affecting key operational, command, training and staff appointments.

According to a statement issued on Saturday by the Acting Director of Army Public Relations, Colonel Appolonia Anele, the reshuffle is part of efforts to strengthen national security and improve operational effectiveness across the country.

The statement added that the postings affected field commanders, school commandants and principal staff officers at the Army Headquarters.

It noted that the Chief of Army Staff, Lieutenant General Waidi Shaibu, approved the strategic redeployment of senior officers, saying the move was aimed at enhancing the Army’s capacity to address emerging security challenges.

Under the new appointments, Major General WM Dangana has been named the General Officer Commanding (GOC) 3 Division Nigerian Army and Commander of Joint Task Force Operation ENDURING PEACE, replacing Major General EF Oyinlola.

Similarly, Major General EI Okoro has been appointed GOC 6 Division Nigerian Army and Land Component Commander of Joint Task Force South-South Operation DELTA SAFE, succeeding Major General EE Emeka.

The statement also announced the appointment of Major General JR Lar as Commander, Army Headquarters Garrison, while Brigadier General OM Oyekola will serve as Acting Military Secretary (Army). Brigadier General I Waziri retains his position as Chief of Staff in the Office of the Chief of Army Staff.

As part of efforts to strengthen operational leadership and combat readiness, Brigadier General IB Buhari was appointed Commander of Headquarters 63 Brigade, while Brigadier General K Rabiu was named Commander of Headquarters 31 Artillery Brigade.

In a move reflecting the Army’s growing emphasis on technology and emerging security threats, Major General SA Emmanuel was appointed Commander of the Nigerian Army Space Command.

The statement noted that the appointment “reinforces the Army’s growing focus on emerging domains of warfare and technology-driven security operations.”

Major General O Adegbe was also appointed Director of Intelligence and Security at Defence Headquarters.

In the area of military education and institutional development, Major General KE Chigbu was appointed Deputy Commandant of the National Defence College, while Major General SD Makolo became Commandant of the Nigerian Army Armour School.

Other appointments include Major General SO Adejimi as Commandant of the Nigerian Army School of Supply and Transport and Major General FS Etim as Chief of Training at the Headquarters Training and Doctrine Command, Nigerian Army (TRADOC).

Brigadier General U Ahmad has also been appointed Commandant of Depot Nigerian Army, Zaria.

The reshuffle further saw Major General KO Ukandu appointed Managing Director and Chief Executive Officer of Post Housing Development Limited, while Major General AI Allison was named Managing Director of Defence Properties Limited.

The statement added, “The COAS charged the newly appointed senior officers to justify the confidence reposed in them by demonstrating exemplary leadership, professionalism, innovation and unwavering commitment to the Nigerian Army’s constitutional mandate of defending Nigeria’s sovereignty, protecting its territorial integrity and supporting civil authority in maintaining peace and security across the nation.

“The Nigerian Army remains resolute in its transformation drive and commitment to building a highly professional, combat-ready and people-oriented force capable of effectively addressing contemporary and future security challenges in pursuit of Nigeria’s national security objectives.”

Continue Reading

News

Nigerians blast Tinubu’s Wife For Asking Women To Sell Akara, Roast Corn

Published

on

The First Lady, Senator Oluremi Tinubu, has come under criticism on social media after encouraging Nigerians to consider small-scale businesses such as selling akara, roasted corn and kuli-kuli, saying they require little capital to start.

Tinubu spoke while addressing State House Correspondents after the Renewed Hope Initiative’s second-quarter meeting with wives of state governors, held at the State House, Abuja, on Wednesday.

She stated this while highlighting the efforts of the Renewed Hope Initiative to support vulnerable Nigerians through grants and other interventions.

According to her, beneficiaries of the initiative were given grants, not loans, to enable them to start businesses.

“We’re trying to give hope, and to start Akara business doesn’t take a lot of money. To start roasting corn, or somebody even said kuli kuli doesn’t take much. We didn’t give them a loan; we gave it to them as a grant.

“So we’ve encouraged Nigerians as best as we could. What is within our hands, I have given, and I keep giving,” she said.

The First Lady said the initiative had also supported interventions in healthcare, agriculture, education and social investment.

She said she donated N2bn to tackle tuberculosis, N1bn for breast cancer interventions and N500m to address malnutrition.

“I remember giving for TB. When I heard there were so many TB cases, I gave N2 billion. To breast cancer, I gave a billion. For food malnutrition, I gave half a billion.

“So those are the things we’ve been doing and making sure we can make sure that whatever this government is trying to do, it will see the light of day,” she stated.

Tinubu added that the initiative had also provided scholarships, ICT training and support for agriculture and social investment programmes.

She urged Nigerians not to lose hope despite the country’s economic challenges.

“The narrative has really changed, has changed to challenge the average man, whereas the average man is supposed to have hope. So I like the idea that Mr President say this is the Renewed Hope Agenda.

“We have to renew our hope, and that’s how we renew our hope, you know, and that’s what I have to tell Nigerians,” she said.

The remarks, however, triggered swift backlash on social media, with many Nigerians accusing the First Lady of trivialising the economic hardship facing ordinary citizens.

A user on X, @ADCVanguard_, said the video showed “exactly how disconnected Nigeria’s ruling class has become from the reality of ordinary citizens.”

Another user, @ireteeh, contrasted the initiative with private-sector efforts, saying, “The First Lady is empowering people with akara, corn, and kuli-kuli, while an ordinary citizen with limited resources is equipping people to build thriving careers in cybersecurity.”

A user identified as Nefertiti (@firstladyship) said, “Nigerians are in big trouble. There is fire on the mountain but the people are tired of running.”

See also  Fire guts Anambra timber market
However, some social media users, especially on X, defended the First Lady, insisting there was nothing wrong with encouraging Nigerians towards such businesses.

A user, @Akikanju1568901, said akara is “one of the most lucrative businesses in Nigeria,” with a low startup cost and high profit margin, adding that “akara sellers sent many kids… to universities, built houses, bought cars.”

Another user, @PemiOladapo, said, “There’s dignity in labour… these are our local snacks! People should start it and scale it!”

A user, @TossynBankz_, however, argued that the criticism was not about the businesses themselves but about timing.

“Nobody is mocking akara, roasted corn, or kuli-kuli. Those are honest businesses. The problem is that Nigerians are asking for a better economy, more jobs, and lower prices. Telling people to start selling akara in this situation just feels like the government doesn’t understand what people are going through,” the user wrote.

Continue Reading

News

Scores of Buildings Face Demolition in Onitsha, Ogidi as Soludo Battles Flood, Erosion

Published

on

By Okey Maduforo, Awka

Scores of buildings obstructing natural waterways in Onitsha and Ogidi are facing demolition as the Anambra State Government steps up efforts to permanently tackle flooding and erosion in the affected communities.

The affected areas are located in Onitsha North, Onitsha South and Idemili North Local Government Areas, where authorities say illegal developments have worsened recurring flood disasters.

The state government also warned land grabbers and property speculators to desist from activities that contribute to environmental degradation and undermine approved urban development plans.

The warning came during a joint inspection of flood- and erosion-prone communities in Ogidi and Onitsha by the Commissioners for Works and Infrastructure, Physical Planning and Urban Development, and Environment.

The inspection team visited several vulnerable locations, including Ogidi Market, Building Materials Market, Opi Stream, the Marine Area and Trans-Nkisi Layout, to assess the extent of damage and identify areas requiring urgent intervention.

Speaking during the inspection, the Commissioner for Works and Infrastructure, Arc. Okey Ezeobi, said Phases Two and Three of the Ogidi Flood Control Project had been completed, while the design for Phase One was ready. He assured residents that the government was committed to providing a lasting solution to the perennial flooding in the area.

Ezeobi blamed much of the erosion damage on land grabbing, unregulated developments and alterations to approved master plans. He urged property owners to preserve designated drainage corridors and support ongoing government remediation efforts.

Also speaking, the Commissioner for Physical Planning and Urban Development, Barr. Chijioke Ojukwu, disclosed that investigations revealed that some traders at the Building Materials Market in Ogidi had erected plazas and shops on designated drainage channels, obstructing the natural flow of stormwater and worsening flooding.

He warned that all structures encroaching on waterways would be removed to enable the government reclaim and restore critical drainage networks in line with Governor Chukwuma Soludo’s vision of building clean, orderly and sustainable communities.

Ojukwu also expressed concern over the growing threat of gully erosion in Trans-Nkisi GRA, Onitsha, describing environmental degradation as a major challenge requiring urgent intervention and strict compliance with planning regulations.

The Commissioner for Environment, Barr. Clem Aguiyi, identified illegal construction, indiscriminate waste disposal and the destruction of vegetation that naturally controls erosion as major factors worsening flooding and erosion across the state.

He called on residents to take collective responsibility by planting erosion-control trees, protecting drainage infrastructure and supporting government initiatives aimed at achieving sustainable environmental management.

Continue Reading
Advertisement

Trending