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Nigeria’s petrol use falls after end of subsidy, regulator says

Petrol Nigeria Bola Tinubu Goodluck Jonathan

Nigeria's President Bola Tinubu announced a controversial fuel subsidy cut during his inauguration on May 29, 2023 [Temilade Adelaja/Reuters]

Nigeria’s average daily petrol consumption has fallen by 28 percent since President Bola Tinubu scrapped a popular but costly subsidy on the fuel at the end of May, data from the industry regulator has shown.

Average daily petrol consumption fell to 48.43 million litres (13 million gallons) in June, down from the previous average of 66.9 million, according to figures released to the Reuters news agency by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

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