The Federal Government has revealed that the volume of Premium Motor Spirit, popularly called petrol that was consumed across the country dropped by about 18.5million litres daily in June.
This follows the removal of fuel subsidy as announced by President Bola Tinubu.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja, in its latest report said the volume of petrol consumed in the first half of 2023 is 11.26 billion litres
It was, however, observed that after the removal of subsidy on petrol, following the pronouncement by President Bola Tinubu on May 29, 2023, PMS consumption reduced by an average of about 18.5 million litres daily in June.
The report showed that between January 1 and May 28, 2023, prior to subsidy removal, the total amount of petrol consumed nationwide was about 9.9 billion litres indicating a daily consumption of 66.9 million litres.
But figures from the Federal Government agency indicated that between June 1 to June 28, 2023, which was described as the post-deregulation period, the total petrol consumption across the country was 1.36 billion litres, while the average daily consumption was put at 48.43 million litres.