Premium motor spirit (PMS), popularly called petrol, has emerged Nigeria’s biggest import out of a total value of Nigeria’s imports of N1.69 trillion in the third quarter of 2015, the Nigerian Bureau of Statistics has said. In its latest foreign trade statistics published on Thursday, the Bureau said that durum wheat and imported complete knocked-down (CKD) motorcycles by established manufacturers ranked second and third out of a list of 15 commodities covered by the report. While the total value of petrol imports for the quarter was put at N220.6 billion, the report, however, said that the federal government spent N71.64 billion and N33.93 billion on the second and third commodities respectively. On exports, the NBS report ranked petroleum oils and oils obtained from bituminous minerals, crude, as the top export commodities, with earnings of about N1.61 trillion out of total merchandise exports of N2.33 trillion. It was followed by […]