Data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has shown that Nigeria’s average daily consumption of Premium Motor Spirit (PMS) popularly called ‘petrol’ has dropped to 52 million litres in July as against the national consumption figure of 64,964,000 that was recorded on the 30th June 2023.
NMDPRA said, the land-based stock and closing stock less dead stock of petrol was one billion, one hundred and twenty million, four hundred and eighty-seven thousand, eight hundred and forty-eight litres (1,120,487,848) as of the end of July 2023.
TheFact Daily reports that there were controversies surrounding the actual volume of petrol consumption in Nigeria.
Just last week, the Nigeria Extractive Industries Transparency Initiative (NEITI) disclosed its plan to conduct a study to ascertain the actual volume of petrol consumption in Nigeria.
NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji assured that the challenges in accurately determining the actual volume of PMS consumption in Nigeria would be unravelled after the study.
Meanwhile, in its latest report, the NMDPRA added that marine stock which included berth and offshore availability was five hundred and twenty-one million thirty-five thousand six hundred and forty-five litres (521,035,645).
According to the data, the total less dead stock was one billion, six hundred and forty-one million, five hundred and twenty-three, four hundred and ninety-three (1,641,523,493) litres however depot dead stock was eighty-three million six hundred and thirty-seven thousand seven hundred and eighty-one (83,637,781) litres.
Total stock inclusive of dead stock was one billion, seven hundred and twenty-five million, one hundred and sixty-one thousand, two hundred and seventy-four (1,725,161,274) 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 was put at one billion six hundred and forty-one million five hundred and twenty-three thousand four hundred and ninety-three (1,641,523,493) litres.
Depot dead stock was eight three million six hundred and thirty-seven thousand seven hundred and eighty-one (83,637,781) litres and total stock inclusive of the dead stock stood at one billion seven hundred and twenty-five million one hundred and sixty-one thousand two hundred and seventy-four (1,725,161,274) litres.
Conversely, on July 1st, land-based stock of PMS was one billion fifty-nine million three hundred and thirty thousand three hundred and twenty-one (1,059,330,321) litres while marine stock at berth and offshore stood at eight hundred and twenty-six million, four hundred and forty-seven thousand seven hundred and forty (826,447,740) litres.
Total stock less dead stock was one billion, eight hundred and eight-five million, seven hundred and seventy-eight thousand sixty-one (1,885,778,061) litres while depot dead stock was eighty-three million ninety-five and forty-two (83,095,042) litres.
Total stock inclusive of the dead stock stood at one billion, nine hundred and sixty-eight million, eight hundred and seventy-three million, one hundred and three (1,968,873,103) litres.
Land-based sufficiency was 16.31 days, marine days sufficiency was 12.72 days and total days sufficiency was 29.03 days.
As of July 1st, the national PMS stock levels, the Nigerian National Petroleum Corporation Limited (NNPCL) had two hundred and ninety-three million three hundred and eighty thousand and seven hundred and thirty-five (293,380,735) litres in stock.
Members of the Major Oil Marketers Association of Nigeria (MOMAN) had ninety-one million, two hundred and two thousand, six hundred and forty-three (91,202,643) litres, while Depot and Petroleum Products Marketers Association of Nigeria had seven hundred and fifty-three billion, eight hundred and twenty-five thousand, one hundred and eighty-three (753,825,183) litres.
On how many days sufficiency, the NMDPRA data said, Nigeria had 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.
Also, by the July 31st, out of the one billion, two hundred and three million, forty-six thousand and ninety-one litres national inland PMS stock, the Nigerian National Petroleum Corporation Limited (NNPCL) had three hundred and seventy-seven million, sixty-eight thousand seven hundred and seventy-two litres in its stock.
Major Oil Marketers Association of Nigeria (MOMAN) had sixty million nine hundred and seventy-three hundred and sixty-five litres while the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) had seven hundred and sixty-five sixteen thousand nine hundred and fifty-four litres.