Olufemi Adeyemi 

Nigeria’s average daily consumption of Premium Motor Spirit (PMS) popularly called ‘petrol’ has dropped to 52 million litres in July as against the national consumption figure of 64,964,000 that was recorded on the 30th June 2023, data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has shown.

According to the Authority, the land-based stock and closing stock less dead stock of petrol was 1.120 billion litres as of the end of July 2023.

It added that marine stock which included berth and offshore availability was 521 million litres.

The agency stated that the total stock less dead stock was 1.641 billion litres however depot deadstock was 83.637 million litres.

NMDPRA said total stock inclusive of dead stock was 1.725 billion litres.The land-based days sufficiency was 21.55 days while marine days sufficiency was put at 10.02 days and total days sufficiency cumulatively stood at 31.57 days.

The total stockless dead stock was put at 1.641 billion litres. Depot deadstock was 83.637 million litres and total stock inclusive of dead stock stood at 1.725 billion litres.

Conversely, on July 1st, land-based stock of PMS was 1.059 billion litres while marine stock at berth and offshore stood at 826.447 million litres. Total stock less dead stock was 1.885 billion litres while depot deadstock was 83.095 million litres.

The Authority also reported that total stock inclusive of deadstock stood at (1.968 billion litres. Land-based sufficiency was 16.31 days, marine days sufficiency was 12.72 days and total days sufficiency was 29.03 days.

It reported that as of July 1st, the national PMS stock levels with the Nigerian National Petroleum Corporation Limited (NNPCL) was 293.380 million litres.

Members of the Major Oil Marketers Association of Nigeria, MOMAN, had 91.202 litres while Depot and Petroleum Products Marketers Association of Nigeria had 753.825 million litres.

On how many days sufficiency, the NMDPRA said Nigeria had land-based days sufficiency of 21.55 days as of the end of July while marine days sufficiency was 10.02 days which brings the total days sufficiency to 31.57 days.

Also, by the July 31st, out of the 1.203 billion litres national inland PMS stock, the NNPCL had 377.68 million litres in its stock.

MOMAN had 60.973 million litres while the DAPPMAN had 765.16 million litres.