Nigeria’s daily petrol consumption drops by 16.8% to 52m/litre – NMDPRA 

    Published By:

    Nigeria’s daily petrol consumption has dropped by 16.8 percent to 52 million litres daily in July compared to 64.96 million litres that was recorded in June 30, 2023.

    The Authority estimates that as of the end of July 2023, there were 1.120 billion liters of land-based stock and closure stock less dead stock of petrol.

    A data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMD­PRA), shows that marine stock which included berth and offshore availability was 521 million litres.

    The country’s average daily consumption of Premium Motor Spirit (PMS), popularly called petrol dropped following the removal of the fuel subsidy.

    Since President Bola Tinubu announced the removal of fuel subsidy which has led to price increments from N400 to N700 per litre of fuel nationwide, report shows that the consumption has drastically dropped in just one month.

    NMDPRA stated that the total stock less dead stock was 1.641 billion litres however depot deadstock was 83.637 million litres.

    The agency added that the total stock inclusive of dead stock was 1.725 billion litres.The land-based days sufficiency was 21.55 days while marine days sufficiency was put at 10.02 days and total days sufficiency cumulatively stood at 31.57 days.

    Queen Ferry
    Queen Ferry
    Chinyere Treasure Ikechukwu known professionally as Queen Ferry, is a Nigerian business Executive, Journalist and Content Editor. She serves as the Vice-Chairman of Naijatraffic Limited. If Treasure is not blogging, she will be making delicious delicacy.

    Most Popular Read

    ‘U no wan hear word, oya send account’ Davido tells fan who is adamant to ride bicycle to see him in Lagos

    Award-winning Afrobeat artist Davido, set to gift fan who is still on the journey on his bicycle from Benue state to see him in...

    He talks in parables that’s why Yul didn’t learn anything, netizen tackles Pete Edochie

    Veteran actor Pete Edochie sparks reactions from netizens over speaking in parables to address his son's marital issues. Wakadaily had earlier reported that Pete Edochie...

    Selena Gomez profess love for Rema, he react

    American singer and actress, Selena Gomez has taken to social media to profess love for Nigerian supper star, Rema. The songwriter expressed her gratitude to...

    Chisom Oguike Biography: Fullname, Age, Parents, Sisters, Career, Networth

    Chisom Hilary Oguike (born on January 21st,2008) is a young Nollywood actress. She became famous after featuring as Michelle in Soul Mate Studio Movie,...

    Anthony Joshua refuses to fight me, despite money offer – Tyson Fury

    British professional boxer, Tyson Fury says his rival, Anthony Joshua has refused to fight him despite offering him huge amount of money and titles. Fury...

    Gabon Coup: Army officers seize power, end Ali Bongo’s 53-year reign

    Military officials in Gabon have made an appearance on national television to announce their coup, bringing an end to the 53-year regin of power...

    I’ll like to collaborate with Kanye West – Asake 

    Popular Nigerian singer, Ahmed Ololade, professionally known as Asake has named American rapper, Kanye West as his dream collaborator. The award-winning singer in an interview...

    Presidential tribunal: Verdict will favour Tinubu – Primate Ayodele

    The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has urged Nigerian to lower their expectation, stating that the Presidential Election Petition Tribunal...

    BBNaija All Stars: ‘I almost lost my life’ Kiddwaya recounts

    Third evicted Big Brother All Stars housmate,Terseer Waya popularly know as Kiddwaya narates how he almost lost his life after featuring in the lockdown...

    Kanye West and wife was banned from Venice boat company over indecent exposure

    Rapper Kanye West and wife, Bianca Censori have been banned by a Venice boat company for indecent exposure. Kanye and Bianca have always been in...