Nigeria’s average daily consumption of Premium Motor Spirit (PMS), or petrol, dropped to N52 million litres in July compared to 64 million litres in the previous month, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Recent data from NMDPRA, obtained by DAILY POST over the weekend, showed that the country’s fuel consumption had dropped following the removal of the petrol subsidy.
President Bola Ahmed Tinubu’s administration’s removal of fuel subsidy has led to price increments of over N600 per litre for PMS nationwide.
When the fuel subsidy removal regime started in June, Nigeria’s average daily fuel consumption stood at 64,964,000. The figure decreased to 52 million litres in July.
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There have been controversies surrounding Nigeria’s daily fuel consumption figure, which prompted the Nigerian Extractives Industries Transparency Initiative (NEITI) to pledge to initiate a study to establish accurate data.
