Subsidy Removal: Records Now Show Nigeria Consume 13 million Not 67 million Litres of Petrol Daily

How many litre of fuel does Nigeria Consume daily NNPC record
Mele Kolo Kyari
Daily consumption of Premium Motor Spirit otherwise known as Petrol by residents of the Federal Republic of Nigeria has fallen drastically after the removal of the oil subsidy.

Recall that President Bola Ahmed Tinubu in his inaugural speech announced that the payment of subsidy is "fine forever".

The government of the Federal Republic of Nigeria spends about four billion nairas monthly to subsidize oil for its residents. However, many economic experts claim that the money being spent on oil subsidy is economically ineffective, and seems more to be another corrupt proceed.

There were claims that the money being spent on oil subsidy in Nigeria is either going into some private pockets or being spent to subsidize oil for non-Nigerians.

Following the removal of the oil subsidy payment by President Tinubu, statistics of the oil consumption rate in Nigeria has fallen drastically from about 67 million Litres of fuel per day to 13 million Litres of Petrol per day.

If the country is to go back to the regime of paying oil subsidy, the country may continue to pay subsidy for non-existing 54 million Litres of oil per day or subsidize the same volume or more of oil for other countries to where Nigerian oil was alleged of being smuggled.

Category: World-News
Tag: How many litre of fuel does Nigeria Consume daily NNPC record
Written by Omooba Alekuwodo (omoobaalekuwodo)
Published 6/10/2023 11:47:40 PM

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