Nigeria’s Petrol Consumption Rate Drops to 50 Million Litres Daily

Olaitan SodiqFebruary 21, 2025139

Nigeria’s petrol consumption rate has drastically dropped to 50 million liters per day, with local refineries supplying half of the daily requirements.
The reduction in consumption is attributed to the removal of petrol subsidy by the Federal Government.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) disclosed that the shortfall in petrol supply is sourced through imports to prevent scarcity in the downstream sector.

The Federal Government of Nigeria has disclosed that the country’s petrol consumption has drastically dropped to 50 million liters per day.

Local refineries are supplying half of the daily requirements, according to Ogbugo Ukoha, Executive Director, Distribution Systems, Storage and Retailing Infrastructure, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Ukoha attributed the reduction in consumption to the removal of petrol subsidy by the Federal Government. “Let me speak a little bit about supply.

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All of us have experienced a yuletide free of any scarcity and let me just reconfirm that from year to year we saw an increase in the demand for PMS by 2021, 2022 up to 2023 just before the current administration came in,” he stated.

“The daily PMS supply sufficiency was always in excess of 60 million, in fact averaging about 66 million a day for PMS. And following Mr. President’s withdrawal of subsidy, the announcement on May 29th, 2023, we immediately saw a steep decline in consumption and between then and as we speak, we’ve continued to do plus or minus 50 million,” Ukoha added.

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