Nigeria’s daily consumption of Premium Motor Spirit (PMS), Automotive Gas Oil (diesel) and Aviation Turbine Kerosene (ATK) recorded significant declines in July, according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The figures were contained in the regulator’s July Fact Sheet, released on Monday, showing a notable month-on-month reduction across all three major petroleum products.
According to the data, daily petrol consumption fell by 25 per cent, dropping from 47.4 million litres per day (MLD) in June to 37.6 MLD in July.
Diesel consumption also declined, although at a slower rate, falling by nine per cent from 16.0 MLD in June to 14.7 MLD in July.
The sharpest reduction was recorded in aviation fuel consumption. Daily consumption of ATK dropped by 41 per cent, from 2.9 MLD in June to just 1.7 MLD in July.
The latest figures indicate a broad decline in demand for petroleum products during the month, although the data does not by itself establish the specific reasons behind the reductions.
The development comes amid continued changes in Nigeria’s downstream petroleum market, with fuel prices, transportation costs, economic activity and evolving consumption patterns influencing demand.
What is driving the sharp decline in Nigeria’s fuel consumption, and what could it mean for the country’s petroleum market?
