The Federal Government has said the volume of Premium Motor Spirit called petrol that was consumed across the country have dropped after deregulation.
According to the data obtained on Sunday from the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja, it was revealed that between January 1 and May 28, 2023, before the deregulation period, the total amount of petrol consumed nationwide was about 9.9 billion litres.
The average consumption for the 148-day period was put at 66.9 million litres, indicating the country consumed an average of 66.9 million litres of petrol daily during the five-month period when subsidy on petrol was still in place.
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.
An analysis of the data by our correspondent showed that the difference between the average monthly consumption figures during the pre-deregulation and post-deregulation periods was about 18.5 million litres.
This implies that the average daily consumption of petrol across the country reduced by about 18.5 million litres after subsidy on commodity was stopped by the Federal Government.
It was, however, observed that petrol consumption rose above 100 million litres in some days, while it fell to below 10 million litres in few other days.
