Petrol: Consumption drops by 16.8% – NMDPRA, says Nigeria has 31.57 sufficiency days
Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has disclosed that daily consumption of the premium motor spirit (PMS) also called petrol, in the country has dropped to 52 million litres daily in July, this year.
According to NMDPRA, the figure represents a 16.8 per cent drop from the 64.96 million litres recorded in June, same year.
NMDPRA further disclosed that Nigeria’s fuel sufficiency days currently stands at 31.57, adding that the agency also has land-based days sufficiency of 21.55 days as of the end of July, while marine days sufficiency was 10.02 days which brings the total days sufficiency to 31.57 days.
“The country’s land-based stock and closing stock less dead stock of petrol was 1.120 billion litres as of the end of July 2023.
“Marine stock which included berth and offshore availability was 521 million litres.
“The total stock less dead stock was 1.641 billion litres however depot deadstock was 83.637 million litres.
“Total stock inclusive of dead stock was 1.725 billion litres. The land-based days sufficiency was 21.55 days while marine days sufficiency was put at 10.02 days and total days sufficiency cumulatively stood at 31.57 days.
“The total stockless dead stock is put at 1.641 billion litres. Depot dead stock was 83.637 million litres and total stock inclusive of dead stock stood at 1.725 billion litres,” NMDPRA reeled out.
Continujg, the agency explained that on July 1st, land-based stock of PMS was 1.059 billion litres while marine stock at berth and offshore stood at 826.447 million litres. Total stock less dead stock was 1.885 billion litres while depot deadstock was 83.095 million litres.
The agency also reported that total stock inclusive of deadstock stood at (1.968 billion litres. Land-based sufficiency was 16.31 days, marine days sufficiency was 12.72 days and total days sufficiency was 29.03 days.
It reported that as of July 1st, the national PMS stock levels with the Nigerian National Petroleum Corporation Limited (NNPCL) was 293.380 million litres.
According to NMDPRA, members of the Major Oil Marketers Association of Nigeria (MOMAN), had 91.202 litres while Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) had 753.825 million litres.
“Also, by the July 31st, out of the 1.203 billion litres national inland PMS stock, the NNPCL had 377.68 million litres in its stock.
“MOMAN had 60.973 million litres while the DAPPMAN had 765.16 million litres,” NMDPRA reported.
