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Nigeria’s gasoline consumption rate has dropped sharply to 50 million liters a day, with local refineries providing half of the daily demand.
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The reduction in consumption is attributed to the federal government’s elimination of gasoline subsidies.
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The Midstream and Downstream Petroleum Regulatory Agency of Nigeria (NMDPRA) revealed that the shortage of gasoline supply was raised through imports to prevent scarcity in downstream industries.
The Nigerian federal government revealed that the country’s gasoline consumption has dropped sharply to 50 million liters.
According to distribution systems, storage and retail infrastructure, Ogbugo Ukoha, executive director of distribution systems, storage and retail infrastructure of Nigeria’s Midstream and Downstream Petroleum Regulatory Agency (NMDPRA), said local refineries are providing half of the daily demand.
Ukoha attributes the reduction in consumption to the federal government’s elimination of gasoline subsidies. “Let me talk about supply.
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There is no scarce Yuletide for all of us, let me reconfirm that every year we will see that we will increase in 2021, until 2023, until 2023, until 2023, just before the current government appears. ” he said.
“The daily supply of PMS always exceeds 60 million, and in fact, the average PMS is about 66 million per day. After the President revoked the subsidy, it was announced that on May 29, 2023, we immediately saw a sharp drop in consumption, from that time As we said, we continue to add or reduce 50 million,” Ukoha added.
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