BUSINESS &ECOMONY

NIGERIANS SPENT N1.3 TRILLION ON PETROL IN JUNE – NMDPRA
Fuel consumption in Nigeria hit a staggering high in June, with Nigerians spending about N1.3 trillion on petrol for vehicles and electricity generators, according to data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The report revealed that a total of 1.44 billion litres of Premium Motor Spirit (PMS) was consumed nationwide during the month, with Lagos, Ogun, and Abuja topping the list of petrol users.
At an average pump price of N900 per litre, Lagos led the pack, consuming 205.7 million litres worth N185.1 billion. Ogun followed with 88.7 million litres (N79.8bn), while Abuja residents used 77.5 million litres (N69.8bn).
Other top consumers included Oyo State (72.8 million litres worth N65.5bn). On the other hand, states like Jigawa (9.4 million litres, N8.5bn), Ebonyi (10.5 million litres, N9.5bn), Yobe (11.7 million litres, N10.5bn), and Bayelsa (11.9 million litres, N10.7bn) recorded the lowest usage.
Breaking down consumption by region, the South-West led with 452.9 million litres valued at N407.7 billion, followed by the North-Central with 247.4 million litres (N222.4bn). The North-West consumed 230 million litres (N207bn), while the South-South followed closely with 224.9 million litres (N202.9bn).
The North-East recorded 152.8 million litres (N137.5bn), while the South-East consumed the least, with 132.7 million litres valued at N119.6 billion.
The data highlights Nigeria’s heavy reliance on petrol, not only for transportation but also for powering households and businesses amid unreliable electricity supply.
"This represents a significant development in our ongoing coverage of current events."— Editorial Board