The Nigerian National Petroleum Company (NNPC) Ltd. has said the current daily consumption of petrol in Nigeria is 74 million litres.
This was what Nigerians consumed as of when the week ended on April 3, 2022, higher than the 72.07 million litres per day utilized in December 2021.
According to its weekly National PMS Evacuation Report for March 21 to April 3, 2022, the NNPC further said the quantity of fuel, also known as premium motor spirit (PMS), used by the nation in 14 days stood at 1.03 billion litres.
The report disclosed that Lagos state topped the list of high demand states with 170.4 million litres, Kano with 83.6 million litres and Niger state with 82.3 million litres, while Yobe, Bauchi and Jigawa States were the low demand states at 4.2 million, 2.4 million and 1.3 million litres respectively.
It also stated that the percentage of petrol loaded for different destinations across the 36 states and the FCT included 13 high demand states at 69 percent volume, 12 medium demand states at 25 percent volume and 12 low demand states at 6 percent volume. According to the report, the average retail price of petrol increased to N185.30 per litre in March 2022 in contrast to N172.68 per litre in March 2021, implying a 7.31 percent increase.
The increase in the daily fuel consumption in the country shows that the amount paid for subsidies by the federal government will rise.
Recently, however, as a result of the increase in the prices of crude oil, which was sparked by the invasion of Ukraine by Russia the National Assembly approved the request of President Muhammadu Buhari to increase the petrol subsidy to N4 trillion.
Nigeria’s inability to refine crude oil is what has led to the importation of petrol in the country even though Nigeria has crude oil in abundance
However, the nation is waiting for Dangote Refinery in Lagos to commence operations at anytime, since the four refineries in the country have failed to work.
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