Petrol consumption in the country dropped by 16.8 percent in July 2023, NewsSpecng learnt.
According to The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) daily consumption reduced to 52 million litres in July compared to 64.96 million litres recorded in June.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that petrol consumption in the country dropped by 16.8 percent in July 2023 to 52 million litres daily compared to 64.96 million litres recorded in June.
According to a NMDPRA report, the land-based stock and closing stock, less dead stock, of petrol was 1.120 billion litres as of the end of July 2023. The marine stock, which included berth and offshore availability, was 521 million litres.
The agency stated that the total stock, less dead stock, was 1.641 billion litres, with depot deadstock standing at 83.637 million litres.
The NMDPRA reported that the total stock, inclusive of dead stock, was 1.725 billion litres.
The land-based days sufficiency was 21.55 days, while the marine days sufficiency was put at 10.02 days, resulting in a total days sufficiency of 31.57 days.
In contrast, on July 1st, the land-based stock of PMS was 1.059 billion litres, while the marine stock at berth and offshore stood at 826.447 million litres. The total stock, less dead stock, was 1.885 billion litres, with depot deadstock at 83.095 million litres.
The NMDPRA also reported that the total stock, inclusive of deadstock, stood at 1.968 billion litres. The land-based sufficiency was 16.31 days, the marine days sufficiency was 12.72 days, and the total days sufficiency was 29.03 days. It further mentioned that as of July 1st, the national PMS stock levels with the Nigerian National Petroleum Corporation Limited (NNPCL) were 293.380 million litres.
