The Federal Government of Nigeria has disclosed that the country’s petrol consumption has drastically dropped to 50 million liters per day with local refineries supplying half of the daily requirements.
This was disclosed by Ogbugo Ukoha, the Executive Director, Distribution Systems, Storage and Retailing Infrastructure, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, during a stakeholders’ meeting in Abuja.
Ukoha said petrol importation became necessary to ensure that scarcity does not return to the downstream sector.
Attributing the reduction in consumption to subsidy removal, he said it was over 60 million litres per day before the administration of President Bola Tinubu.