According to the Nigerian Extractives Industries Transparency Initiative (NEITI), there is currently no credible data available to determine the daily consumption of petrol in Nigeria. Orji Ogbonnaya, the executive secretary of NEITI, announced that the agency will conduct a study to accurately assess fuel consumption in the country.
The issue of Nigeria’s daily petrol consumption has been a subject of uncertainty. In 2022, the Nigerian National Petroleum Company (NNPC) Limited claimed that Nigerians consume 60 million liters of petrol daily. However, this figure was contested by the Nigerian Customs Service (NCS), which asserted that the national oil firm actually releases 98 million liters into the market each day.
On June 1, 2023, Mele Kyari, the group chief executive officer (GCEO) of NNPC, concluded that there is no credible data to determine the daily consumption of petrol in Nigeria. In light of this, Ogbonnaya emphasized the importance of obtaining an empirical figure during a stakeholders forum.
NEITI believes that the figures currently presented for daily petrol consumption in Nigeria are not accurate. Therefore, the agency is commissioning a study to determine the actual consumption of petrol in the country. Ogbonnaya also highlighted that the removal of fuel subsidies will lead to greater transparency in the oil sector, removing opacity and suspicion in budgeting.
NEITI has long advocated for the removal of fuel subsidies, and now that it has been eliminated, the agency expects greater transparency and accountability in the management of oil and gas revenues. Ogbonnaya expressed the need to sustain the policy shift and establish a robust framework that demonstrates a clear departure from the previous subsidy system. He emphasized that Nigerians want to see tangible changes resulting from the removal of subsidies, as subsidies have hindered transparency and accountability in the oil and gas industry over the years.