Amid rising energy costs, Nigerians spent about N1.3tn on buying Premium Motor Spirit (petrol) to power their vehicles and electricity generators in June, as consumption across the country reached 1.44 billion litres, according to the latest data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Nigerians consume more petrol than any other fuel, and as a nation battling an unreliable power supply, a larger percentage of the population depends on petrol for self-generation.
Following the removal of petrol subsidies two years ago, the amount Nigerians burn on fuel rose to an unimaginable high. Based on NMDPRA data, Lagos, Ogun and the Federal Capital Territory, Abuja, were the major petrol consumers in June.
The NMDPRA PMS truckout report for June indicated that a total of 1.44 billion litres of petrol were sent to states in the month. At a conservative average pump price of N900 per litre, this translates to about N1.3tn.
Out of the 1.44 billion litres trucked to states, Lagos consumed 205.7 million litres, valued at N185.1bn. Ogun followed with 88.7 million litres at a cost of N79.8bn, while the FCT received 77.5 million litres, valued at N69.8bn.
