The Federal Government says the volume of petrol consumed across the country in the first half of 2023 is 11.26 billion litres,
It was, however, observed that after the removal of subsidy on fuel, following the pronouncement by President Bola Ahmed Tinubu on May 29, 2023, consumption reduced by an average of about 18.5 million litres daily in June.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, data has indicated that between January 1 and May 28, which was the pre-deregulation period, the total amount of petrol consumed nationwide was about 9.9 billion litres.
The average consumption for the 148-day period was put at 66.9 million litres, indicating the country consumed an average of 66.9 million litres of petrol daily during the five-month period when subsidy on petrol was still in place.
But figures from the agency show that between 1 to 28, June, which was described as the post-deregulation period, the total petrol consumption across the country was 1.36 billion litres, while the average daily consumption was put at 48.43 million litres.
