Nigeria’s daily petrol consumption drops by 35%

The daily petrol consumption in Nigeria has experienced a decline by 35 per cent since the removal of subsidy.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief Executive, NMDPRA, Mr Ahmed Farouk said the country’s petrol daily consumption figure stands at 46.34 million litres per day.

He said 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 daily basis for petrol consumption, after announcing subsidy removal on May 29, reduced to 46.34 million litres per day.

“The current daily consumption has drastically reduced as against 65 million litres which had been the daily consumption before subsidy removal.

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

The NMDPRA boss said 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.

Farouk also revealed that the Authority is working with the Federal Competition and Consumer Protection Commission (FCCPC), to checkmate marketers from taking undue advantage of the consumers.

He said the NMDPRA would ensure consumer protection at every station, adding that the quality of products imported would be in focus to avoid substandard petrol.

“We will ensure safety, consumer protection and standard by ensuring quality control among marketers.”

The meeting had in attendance managing directors of all downstream sector operators, delegation of Major Oil Marketers Association of Nigeria (MOMAN), and Depots Owners Association of Nigeria (DAPPMAN), among others.