36 3bn spent on petroleum products importation in four years cbn

According to the Central Bank of Nigeria (CBN), the country spent a total of $36 billion on petroleum products importation between 2015 and 2019.

Here is the breakdown of the importation value for each year:

These figures are based on the CBN's data on Nigeria's foreign trade and are subject to slight variations depending on the source. However, they provide a general idea of the significant amount of money spent on petroleum products importation over the four-year period.

It's worth noting that Nigeria's reliance on imported petroleum products has been a major concern for the country's economy, as it has led to a significant drain on the country's foreign exchange reserves and has contributed to the country's trade deficit. Efforts have been made to increase local refining capacity and reduce dependence on imported petroleum products, but more work needs to be done to achieve this goal.