₦airaland Forum

The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the country’s daily petrol consumption currently ranges from 45 million litres to 50 million litres.

NMDPRA’s Chief Executive Officer, Mr Farouk Ahmed, disclosed this while speaking on the sidelines of the ongoing 18th Africa Downstream Energy Week in Lagos.


The News Agency of Nigeria (NAN) reports that the 2024 OTL Africa Downstream Energy Week has the theme “Alliances for Growth.”.


Ahmed said that higher petrol consumption during the fourth quarter, especially near the holiday season, was typical due to increased industrial and consumer activities.

He expressed hope that recent price adjustments and market liberalisation would reduce cross-border smuggling, helping to retain more petrol within Nigeria.

“We hope this price adjustment or liberalisation will discourage cross-border smuggling of the product, meaning that more petrol will stay within the country,” he said.

He said that actual petrol consumption levels in Nigeria could decrease but were unlikely to drop significantly.

Discussing the conference’s theme, Ahmed emphasised the importance of alliances in the industry for efficiency and cost reduction.


He said that fewer shared facilities would be more efficient than numerous idle private depots, benefiting both businesses and consumers.

“Collaborations or alliances among stakeholders will lead to greater efficiency and lower costs for consumers,” Ahmed said.

He said that shared facilities among agencies such as NMDPRA, Nigerian Maritime Administration and Safety Agency, and the Nigeria Ports Authority could reduce operational inefficiencies.


According to Ahmed, NMDPRA does not plan to enforce mergers, but industry players are encouraged to consider partnerships, especially in saturated markets, to improve efficiency and lower costs for consumers.


“With strategic alliances in place, we can reduce costs for consumers by making the most of our existing infrastructure,” he said.

Ahmed gave the assurance that NMDPRA would continue with evaluating project viability to ensure consumer benefit.

According to him, collaborative efforts and efficient operations are critical for a sustainable energy future in Nigeria. (NAN)

Omooba77:
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the country’s daily petrol consumption currently ranges from 45 million litres to 50 million litres.

NMDPRA’s Chief Executive Officer, Mr Farouk Ahmed, disclosed this while speaking on the sidelines of the ongoing 18th Africa Downstream Energy Week in Lagos.


The News Agency of Nigeria (NAN) reports that the 2024 OTL Africa Downstream Energy Week has the theme “Alliances for Growth.”.

I spent 24 years in prison for refusing to join in murder, money ritual plot — Ismaila Lasisi0:00 / 0:00

Ahmed said that higher petrol consumption during the fourth quarter, especially near the holiday season, was typical due to increased industrial and consumer activities.

He expressed hope that recent price adjustments and market liberalisation would reduce cross-border smuggling, helping to retain more petrol within Nigeria.

“We hope this price adjustment or liberalisation will discourage cross-border smuggling of the product, meaning that more petrol will stay within the country,” he said.

He said that actual petrol consumption levels in Nigeria could decrease but were unlikely to drop significantly.

Discussing the conference’s theme, Ahmed emphasised the importance of alliances in the industry for efficiency and cost reduction.


He said that fewer shared facilities would be more efficient than numerous idle private depots, benefiting both businesses and consumers.

“Collaborations or alliances among stakeholders will lead to greater efficiency and lower costs for consumers,” Ahmed said.

He said that shared facilities among agencies such as NMDPRA, Nigerian Maritime Administration and Safety Agency, and the Nigeria Ports Authority could reduce operational inefficiencies.


According to Ahmed, NMDPRA does not plan to enforce mergers, but industry players are encouraged to consider partnerships, especially in saturated markets, to improve efficiency and lower costs for consumers.


“With strategic alliances in place, we can reduce costs for consumers by making the most of our existing infrastructure,” he said.

Ahmed gave the assurance that NMDPRA would continue with evaluating project viability to ensure consumer benefit.

According to him, collaborative efforts and efficient operations are critical for a sustainable energy future in Nigeria. (NAN)

https://www.vanguardngr.com/2024/10/nigeria-consumes-50m-litres-of-petrol-daily-says-nmdpra/

NSNO:
Was it not you people that came out a few days ago to say that daily consumption is currently around 4.5 million litres?

Omooba77:
https://www.vanguardngr.com/2024/10/nigeria-consumes-50m-litres-of-petrol-daily-says-nmdpra/

9jatriot:
Matters like this are not hard. Since petrol is now deregulated, you are free to claim any figure you like.
If you claim that you sold 50 million litres per day, no wahala, when time for account reach, you must show income that is commensurate with the 50 million litres per day.
Incase their calculator don spoil, let me help them calculate it down. So we will be expecting them to show "Receivables" of 50,000,000 x 1070 = 53,500,000,000 naira per day.
I believe that is 53,5 billion naira income per day.
Non be wen dat time reach dem go come tell us say na 5 million litres they be wan write o,

Kobojunkie:
When did this deregulation in fact happen? The government is still in talks on when and how to implement deregulation but una don already conclude say petrol done dey deregulated... how come?

https://businessday.ng/backpage/article/nigeria-begins-oil-deregulation-a-shift-toward-market-forces/