The Federal Government has announced that Nigerias petrol consumption has dropped to 50 million litres per day, with local refineries supplying half of the daily requirement. The remaining volume is being imported, but none of the companies involved in domestic refining are part of the importation process. Speaking to journalists after a stakeholders’ meeting in Abuja, the Executive Director of Distribution Systems, Storage and Retailing Infrastructure at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Ogbugo Ukoha, stated that petrol importation remains necessary to prevent scarcity in the downstream sector. Let me speak a little bit about supply. All of us have experienced a yuletide free of any scarcity, and let me just reconfirm that from year to year, we saw an increase in the demand for PMS by 2021, 2022 up to 2023 just before the current administration came in. The daily PMS supply sufficiency was always more than 60 million, in fact averaging about 66 million a day for PMS. And following Mr. Presidents withdrawal of subsidy, the announcement on May 29th, 2023, we immediately saw a steep decline in consumption, and between then and as we speak, weve continued to do plus or minus 50 million. Of these 50 million litres averaging for each day, less than 50% of that is contributed by domestic refineries, and so the shortfall, in accordance with the PIA (Petroleum Industry Act), is sourced by way of imports. Ukoha also disclosed that the NMDPRA has banned 60,000-litre capacity tankers from transporting petrol and other petroleum products, effective March 1, 2025. The decision comes despite opposition from the National Association of Road Transport Owners (NARTO), which had warned that the ban would cost truck owners over N300 billion invested in procuring more than 2,000 units of 60,000-litre capacity trucks currently used for fuel transportation. According to Ukoha, tankers with a 60,000-litre capacity have been responsible for the recent surge in petrol tanker fires across the country. The breaking news about that today is that in todays meeting, comprising DSS, FEMA, Federal Fire Service, Road Safety, NATO, NUPENG, MEMAN, PETROAN, IPMAN, DAPMAN, SON, and ONSA, it was decided that beginning 1st March, any truck with an axle load that is carrying more than 60,000 litres of hydrocarbon will not be allowed to load at any loading depot. Let me repeat, beginning 1st March, trucks with a capacity in excess of 60,000 litres will not be allowed to load in any loading depot for petroleum products. By Q4 of 2025, we will also preclude the loading or transportation of petroleum products on any truck in excess of 45,000 litres. So that is the breaking news for today. The NMDPRA also noted that the high-capacity tankers have contributed significantly to the deterioration of Nigerian roads, reinforcing the need for stricter regulations on fuel transportation.The post FG confirms Nigeria uses 25m litres of imported petrol daily appeared first on Linda Ikeji Blog.FG confirms Nigeria uses 25m litres of imported petrol daily
The Federal Government has announced that Nigerias petrol consumption has dropped to 50 million litres per day, with local refineries supplying half of the daily requirement. The remaining volume is being imported, but none of the companies involved in domestic refining are part of the importation process. Speaking to journalists after a stakeholders’ meeting in Abuja, the Executive Director of Distribution Systems, Storage and Retailing Infrastructure at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Ogbugo Ukoha, stated that petrol importation remains necessary to prevent scarcity in the downstream sector. Let me speak a little bit about supply. All of us have experienced a yuletide free of any scarcity, and let me just reconfirm that from year to year, we saw an increase in the demand for PMS by 2021, 2022 up to 2023 just before the current administration came in. The daily PMS supply sufficiency was always more than 60 million, in fact averaging about 66 million a day for PMS. And following Mr. Presidents withdrawal of subsidy, the announcement on May 29th, 2023, we immediately saw a steep decline in consumption, and between then and as we speak, weve continued to do plus or minus 50 million. Of these 50 million litres averaging for each day, less than 50% of that is contributed by domestic refineries, and so the shortfall, in accordance with the PIA (Petroleum Industry Act), is sourced by way of imports. Ukoha also disclosed that the NMDPRA has banned 60,000-litre capacity tankers from transporting petrol and other petroleum products, effective March 1, 2025. The decision comes despite opposition from the National Association of Road Transport Owners (NARTO), which had warned that the ban would cost truck owners over N300 billion invested in procuring more than 2,000 units of 60,000-litre capacity trucks currently used for fuel transportation. According to Ukoha, tankers with a 60,000-litre capacity have been responsible for the recent surge in petrol tanker fires across the country. The breaking news about that today is that in todays meeting, comprising DSS, FEMA, Federal Fire Service, Road Safety, NATO, NUPENG, MEMAN, PETROAN, IPMAN, DAPMAN, SON, and ONSA, it was decided that beginning 1st March, any truck with an axle load that is carrying more than 60,000 litres of hydrocarbon will not be allowed to load at any loading depot. Let me repeat, beginning 1st March, trucks with a capacity in excess of 60,000 litres will not be allowed to load in any loading depot for petroleum products. By Q4 of 2025, we will also preclude the loading or transportation of petroleum products on any truck in excess of 45,000 litres. So that is the breaking news for today. The NMDPRA also noted that the high-capacity tankers have contributed significantly to the deterioration of Nigerian roads, reinforcing the need for stricter regulations on fuel transportation.The post FG confirms Nigeria uses 25m litres of imported petrol daily appeared first on Linda Ikeji Blog.