Petrol consumption in the country dropped by 16.8 per cent in July 2023 to 52 million litres daily, compared to 64.96 million litres recorded in June.
This is according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA.
NMDPRA noted that the 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 agency stated that the total stock less dead stock was 1.641 billion litres however depot deadstock was 83.637 million litres.
NMDPRA said 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 was put at 1.641 billion litres. Depot deadstock was 83.637 million litres and total stock inclusive of dead stock stood at 1.725 billion litres.
Conversely, 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.
NMDPRA 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.