Spending on petrol imports crashes to N87 billion in three months

Nigeria's expenditure on petrol imports experienced a significant decline in the first quarter of 2026, dropping to N87.401 billion. This represents a decrease of over 96 percent, or N2.184 trillion, when compared to the N2.271 trillion spent during the same period in the previous year. The latest foreign trade statistics released by the National Bureau of Statistics (NBS) highlight this dramatic reduction in spending, reflecting a substantial shift in the country's import dynamics.

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