President Bola Ahmed Tinubu's administration, resulting in a nationwide PMS price increase of over N600 per liter.
By Ebiboere Okpoku
Nigeria’s daily consumption of Premium Motor Spirit (PMS), also known as petrol, declined to 52 million liters in July from 64 million liters the previous month, as reported by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Recent data from NMDPRA, acquired by Waffi TV, indicates a decrease in fuel consumption since the removal of the petrol subsidy by President Bola Ahmed Tinubu’s administration, resulting in a nationwide PMS price increase of over N600 per liter.
In June, at the commencement of the fuel subsidy removal, Nigeria’s average daily fuel consumption stood at 64,964,000 liters, which then decreased to 52 million liters in July.
This shift in daily consumption figures has sparked controversies, prompting the Nigerian Extractives Industries Transparency Initiative (NEITI) to commit to conducting a study to establish more accurate data.
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