Premium Motor Spirit took the lion’s share of Nigeria’s imports in the fourth quarter of 2020 as the country spent an estimated N573.69bn on the product.
This is made known by the National Bureau of Statistics on Wednesday.
According to data from NBS, the country’s total import in Q4 2020 was N5.93tn as against N3.19tn export, resulting to a trade balance of -N2.73tn – the highest trade deficit recorded by Nigeria in about 30 years.
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Following PMS, popularly known as petrol, are vaccines for human use estimated at N399.3bn and Durum Wheat at N256.49bn.
Others on the list include used vehicles (N241.91bn), antibiotics (N177.29bn), Automotive Gas Oil (N151.64bn), and motorcycles (N112.4bn).
See chart below
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