Nigeria's petrol import bill experienced a significant decline, dropping to N87.40 billion in the first quarter of 2026, a stark contrast to the N3.54 trillion recorded in the fourth quarter of 2025. This represents a decrease of approximately 97.5 percent, equating to a reduction of around N3.45 trillion in expenditure on petrol compared to the previous quarter. The data, released by the National Bureau of Statistics (NBS), highlights a remarkable shift in the country's petrol import spending. Further year-on-year comparisons were not detailed in the report.
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