Nigeria Sees Sharp Decline in Petrol Consumption After President Tinubu Takes Office
In a dramatic turn of events, Nigeria has witnessed a significant drop in petrol consumption since President Bola Tinubu took office on May 29, 2023. According to data obtained by Channels Television from the Nigerian Midstream and Downstream Product Regulatory Authority (NMDPRA), daily petrol consumption has plummeted to 4.5 million litres per day as of August 20, 2024.
This represents a staggering 92% decrease from the daily petrol consumption of 60 million litres per day recorded in May 2023. The NMDPRA’s Daily Truck Out Report for September 2024 provides insight into this drastic decline, highlighting a significant shift in the country’s petrol consumption patterns.
Analysis of the report reveals that only 16 out of the 36 states in the federation received product allocation from the Nigerian National Petroleum Company Limited (NNPCL) in the month under review. This shortage led to scarcity in the affected states, which were left without petrol allocation.
Breaking down the allocation, Niger state topped the list with 21 trucks amounting to 940,000 litres daily, followed by Lagos with 12 trucks amounting to 726,001 litres, and Kaduna with 12 trucks of 454,001 litres. Other states, such as Oyo, Kano, Ondo, and Kwara, received smaller allocations, while states like Sokoto, Ogun, Osun, Gombe, Benue, Ekiti, and Kebbi received only a few trucks.
The significant drop in petrol consumption raises questions about the country’s energy landscape and the impact of the decline on the economy and the lives of Nigerians. As the country continues to navigate this shift, it remains to be seen what the long-term effects of this decline will be.