Fuel consumption in Nigeria drops by 12.96m after fuel subsidy removal

Petrol consumption in Nigeria dropped in July by 19.95 per cent month-on-month, following the removal of fuel subsidy by President Bola Tinubu.

According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) report for the month of July 2023, Nigerians consumed 52 million litres daily.

This is contrasted with the 64.96 million litres per day recorded in June of the same year, indicating a decline of 12.96 million within one month.