Petrol Consumption Falls to Eight-Month Low as High Prices Bite Nigerians

Nigeria’s daily petrol consumption fell to an eight-month low of 41.6 million litres in August, down 31 percent from 60.2 million litres recorded in January, according to Nigerian Midstream data. The decline came despite average daily PMS supply rising to 50.5 million litres in August. Many motorists and households have reportedly reduced the use of vehicles and petrol generators as pump prices and transport costs continue to rise. Supply from the Dangote refinery rose to 35 million litres per day in August, while imports fell to 14.6 million litres. Commercial transport operators say the federal government’s temporary N66-per-litre discount at NNPCL outlets has provided little relief because it is difficult to access and too small to cut operating costs significantly.

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