Nigeria’s daily petrol consumption falls by 35% to 46.38m Litres NMDPRA

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said Nigeria’s daily petrol consumption has fallen from 65 million litres per day to 46.38 million litres per day following the removal of fuel subsidy by the Federal Government.

The Chief Executive, NMDPRA, Ahmed Farouk, disclosed this during a stakeholders meeting with oil and gas downstream operators in Lagos.

He said that the figure represented 35 per cent reduction when compared with the 65 million litres per day, prior to subsidy removal.

According to him, an average truck out on a daily basis for petrol consumption, after subsidy removal on May 29, reduced to 46.38 millions litres.

 “In January, it was 62 million per litre; February, 62 million per litre; March, 71.4 million per litre; April, 67.7 million per litre; May 66.6 million per litre; June, 49. 5 million per litre and July, 46.3 million per litres,” he said.

The NMDPRA boss said that the essence of the meeting was to review the downstream sector after the subsidy removal and also to thank marketers who had taken the offer to import petrol.

On petrol importation, Mr Farouk said over 56 companies applied for import licenses to bring in petrol, while only 10 made commitment to import.