Nigeria Imports 166m Liters Of LPG In Q2 2018

Nigeria Imports 166m Liters Of LPG In Q2 2018
Cooking gas plant Photo: Technology Times

Nigeria imported 65.71 million liters of Liquefied Petroleum Gas (LPG) in the second quarter of 2018, according to the National Bureau of Statistics (NBS).

In a recent document by the NBS, Nigeria recorded the highest amount of importation of the product in April of the year under review with 59.89 million liters.

On the flipside, June got the minimum importation rate of  LPG pegged at 105.49 million.

Similarly, capital importation into the country was $5,513.55 million during the time under review.

This indicates a fall of 12.53% as against figures in the first quarter of 2018 even though there was a 207.62% rise in comparison with the same period last year.

Concise News gathered that the fall in the second quarter was due to a decrease in Portfolio and Other Investments.

This is a slump of 9.76% and 24.07% in that order.

Also, the largest capital importation by type was gotten from Portfolio investment, which pulled in 74.7% ($4,119.5m).

It is trailed by Other Investment which amounted to 20.5% ($1,132.8m) and then Foreign Direct Investment FDI, responsible for 4.7% ($261.4m) of capital imported in the second quarter of 2018.

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