Business
Daily consumption of petrol drops from 66.6m litres to 46m litres – NNPC GMD
The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, on Friday said that the daily consumption of petrol in Nigeria has dropped from 66.6 million litres to 46 million litres.
Suddenly, figures of daily petrol consumption in Nigeria has begun to drop after removal of subsidy.
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Kyari, at a briefing in Abuja on Friday by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, declared: “the consumption of Petrol Motor Spirit (PMS) or petrol, had dropped from 66.6 million litres to 46 million litres daily.
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“Production has increased to 1.6 million barrels per day.”
Kyari was among government officials that attended the media briefing of the Minister of Finance and Coordinating Minister for the Economy.
The Minister of Finance and Coordinating Minister for the Economy, in his briefing, revealed that the federal government has so far released N2 billion released of the N5 billion earmarked for palliative in light of the removal of fuel subsidy to each state government.
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The Finance Minster maintained that the partial release of the funds is to curb inflation.
The minister reaffirmed President Bola Tinubu stand on budget, that the country cannot continue to spend over 90% of its revenue to service debts.
The key government officials in attendance include the Minister of Budget, Abubakar Bagudu; and the Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari; the Director General of the Budget Office, Mrs Patience Oniha; the Senior Assistant to the President on Tax Reforms, Zacch Adedeji; and the Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele.