KEY POINTS
- Nigeria’s fuel evacuation fell 16.4% in June to 1.44 billion litres, averaging 48.03 million litres daily.
- Petrol supply dropped nearly 48%, outweighing a small 1.73% rise in diesel supply.
- Lagos consumed the most fuel, with 205.66 million litres in June, followed by Ogun and the FCT.
According to new data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigeria’s daily fuel consumption fell precipitously in June, with overall supply levels reaching one of their lowest points in recent months and petrol demand plummeting.
Fuel evacuation for the month was 1.44 billion liters, or slightly more than 48 million liters per day, according to figures released on Wednesday by NMDPRA Director of Public Affairs George Ene-Ita. Previous reports that put the number at 38.94 million liters were corrected by the agency.
The June total represented a drop of over 290 million liters in nationwide distribution, a sharp 16.4% decrease from May’s 1.77 billion liters.
Fuel truck-outs have decreased, which is the most recent indication of pressure in the downstream industry, where marketers have experienced decreased consumer spending since last year’s deregulation of petrol prices.
Decline in gasoline supply offsets modest diesel uptick
Breaking down the numbers, NMDPRA reported that petrol supply and distribution saw the sharpest contraction, tumbling nearly 48% to 37.66 million litres in June from 72.36 million litres in May.
The slump in gasoline demand was only partially offset by a 1.73% rise in diesel supply to 432.18 million litres, up from 424.83 million litres in May.
However, diesel distribution — actual truck-outs — dropped by 23.2% to 424.06 million litres, suggesting weaker end-user demand despite the modest supply increase. Household kerosene volumes also fell, with supply and distribution down 13% to 7.79 million litres.
State-by-state figures showed Lagos as the biggest consumer, receiving 205.66 million litres in June, followed by Ogun with 88.69 million litres, the Federal Capital Territory with 77.51 million litres, and Oyo with 72.81 million litres.
The NMDPRA said it will continue to work with stakeholders to ensure uninterrupted fuel supply despite the market headwinds.
