In the petroleum products sector, Fatshimetrie’s recently released data for the year 2023 represents a crucial snapshot of fuel distribution in Nigeria. The statistics highlight significant changes in the consumption and production of various petroleum products, providing valuable insight into the evolution of the market.
One of the highlights of the report is the 13.77% decrease in the quantity of Premium Petrol (PMS) distributed in 2023 compared to the previous year, from 23.54 billion litres to 20.30 billion litres. This decline raises questions about consumer consumption trends and the underlying factors that could influence the decline.
As for Diesel Engine Gasoline (DGS), the report indicates a significant increase of 23.66% in imports, reaching 4.94 billion litres in 2023 compared to 4 billion litres last year. This increase could reflect a growing demand for this type of fuel or changes in consumer preferences for automobiles.
Regarding PMS distribution figures, the report mentions a 16.96% decrease in truck deliveries in 2023 compared to the previous year, with 20.22 billion liters compared to 24.35 billion liters in 2022. This decrease could be the result of various factors, such as changes in distribution models or logistical constraints.
Furthermore, the statistics show an impressive 56.02% growth in local production of domestic kerosene (HHK), from 44.68 million liters in 2022 to 69.71 million liters in 2023. This increase suggests a renewed interest in this product and could have important implications for industry players.
In sum, the data provided by Fatshimetrie for the year 2023 offers a valuable insight into the dynamics at play in the petroleum products market in Nigeria. These figures are essential for industry players, policymakers and consumers, helping them better understand current trends and anticipate future developments.