Daily Fuel Consumption Drops To 52m Litres, Says FG

Average daily consumption of premium motor spirit (petrol) in Nigeria has dropped from 64,964,000 per day recorded on June 30, 2023 to 52 million.

Daily truck out as at August 14 stands at 1,306 trucks carrying a total of 59,482,995 litres of petrol that is distributed to all parts of the country.

Total petrol stock stood at 725,161,274 litres, representing 31 days sufficiency.

These data were sourced from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and provides some sort of clarity to the true PMS consumption figures in the country.

According to the Authority, land-based stock and closing stock (less dead stock of petrol) was 1,120,487,848 litres as at the end of July 2023.

Last week, the Nigeria Extractive Industries Transparency Initiative (NEITI) disclosed its plan to conduct a research to determine the actual volume of petrol consumption in Nigeria.

NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji assured that the study would surmount the challenges in accurately determining the actual volume of PMS consumption in Nigeria and ultimately close the lid on speculative figures.

The NMDPRA, in its latest report, noted that marine stock, which included berth and offshore availability, was 521,035,645 litres.

According to the data, the total stock (less dead stock) was 1,641,523,493 litres, just as depot deadstock was 83,637,781 litres. Total stock inclusive of dead stock was 1,725,161,274 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.

The total stockless dead stock was put at 1,641,523,493 litres.

Depot deadstock was 83,637,781 litres and total stock inclusive of the dead stock stood at 1,725,161,274 litres.

On July 1st, land-based stock of PMS was 1,059,330,321 litres while marine stock at berth and offshore stood at 826,447,740 litres.