Petroleum import bill skyrockets

Namibia had to pay about N$2.47 billion for petroleum oils it imported in May, according to the latest figures of the Namibia Statistics Agency (NSA). This is some N$645 million or 35.3% more than the previous month. Compared to May 2021, Namibia’s import bill for petroleum oils rose by nearly N$1.5 billion or 143%. Of the nearly N$2.5 billion worth of petroleum oils imported in May, Namibia re-exported around N$256 million.