The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that the country’s current daily petrol consumption stands between 45 and 50 million litres.
This figure was shared by NMDPRA’s CEO, Mr. Farouk Ahmed, during the 18th Africa Downstream Energy Week in Lagos, an event themed “Alliances for Growth.”
According to the News Agency of Nigeria (NAN), Ahmed noted that petrol demand typically spikes in the fourth quarter, particularly around the holiday season, due to increased consumer and industrial activity.
He expressed optimism that recent price adjustments and market liberalisation will reduce the smuggling of petrol across borders, thereby retaining more fuel 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 added that while actual consumption could decrease, any reduction is likely to be moderate.
Ahmed also highlighted the conference’s theme, underscoring the value of industry alliances in improving efficiency and reducing costs.
He explained that shared resources and fewer idle depots could lower expenses for both businesses and consumers, particularly if agencies such as NMDPRA, the Nigerian Maritime Administration and Safety Agency, and the Nigeria Ports Authority collaborated to reduce inefficiencies.
“With strategic alliances in place, we can reduce costs for consumers by making the most of our existing infrastructure,” he said.
Though NMDPRA won’t mandate mergers, Ahmed encouraged industry players to consider partnerships, especially in competitive markets, as a means of boosting operational efficiency and benefiting consumers.
He concluded by assuring that NMDPRA remains committed to evaluating projects to ensure they align with consumer interests, adding that collaboration and streamlined operations are vital for Nigeria’s sustainable energy future.
