The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, says the removal of fuel subsidy by the Federal Government on May 29, 2023 has resulted in demands for petrol products dropping by 30 million litres (about 67 per cent) from 44.6 million litres a day in August 2024 to 14.7 million litres by 13 April 2025.
The Chief Executive Officer, of NMDPRA, Farouk Ahmed, gave the figures while featuring on Meet the Press, an interactive session between the State House Correspondents and the Presidential Media aides.
He also confirmed that the federal government has not imported a single litre of fuel since January 2025.
He said that local supply rose by 670 per cent within within August 2024 to date.
He also clarified that after contributing virtually nothing in August, local plants delivered 26.2 million per day in early April, a jump from the 3.4 ml recorded in September, the first month with measurable output.
He attributed the surge to the phased resucitation of the Port Harcourt Refining Company in late November including incremental volumes from modular refineries in the country.
Explaining further, he said despite the progress, combined supply crossed the government’s 50 ML/day consumption benchmark only twice in the eight-month window—November (56 ML) and February (52.3 ML).
In March it slipped just below target at 51.5 ML, and in the first half of April, it remained short at 40.9 ML.
He maintained that the Authority only grants imports licenses relative to the country’s supply requirements.
Ahmed also debunked fears that the volatility in the global oil market will adversely affect the national budget for 2025.
