Nigeria’s each day petrol consumption crashes 52% says FG

Nigeria’s each day consumption of Premium Motor Spirit, PMS, generally referred to as petrol, has dropped by 92 p.c following the federal authorities’s current elimination of gasoline subsidies, in line with findings by BusinessDay.

Information from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Day by day Truck Out Report reveals that as of August 20, 2024, petrol consumption dropped to 4.5 million litres per day.

In distinction, each day consumption was recorded at 60 million litres per day in Might 2023, marking an astonishing 92 p.c lower since President Tinubu’s inauguration.

Learn additionally: Home of Reps orders instant reversal of petrol, gasoline value hikes

The NMDPRA report confirmed that solely 16 out of the 36 states in Nigeria obtained product allocations from the Nigerian Nationwide Petroleum Firm Restricted, NNPCL, through the month in query. Consequently, states that didn’t obtain allocations skilled vital shortage of petrol in August.

Among the many states receiving allocations, Niger led with the very best distribution of 21 vans, totaling 940,000 litres each day. Lagos adopted with 12 vans, amounting to 726,001 litres, and Kaduna obtained 12 vans containing 454,001 litres.

Different states, together with Oyo (12 vans), Kano (9 vans), and Ondo (6 vans), additionally obtained allocations, whereas Sokoto, Ogun, Osun, Gombe, Benue, Ekiti, and Kebbi obtained various smaller quantities.

President Tinubu introduced the termination of petrol subsidies on Might 29, 2023, stating that the subsidy system, which had price the federal government roughly N12 trillion over the previous decade, was now not sustainable and had contributed to the nation’s vital debt.