Subsidy removal: Petrol consumption falls by 30% – Kyari

The daily consumption of petrol in Nigeria has fallen by 30 percent following the removal of subsidy by President Bola Tinubu. 

The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, disclosed this on Friday.

Kyari spoke in Abuja at a news briefing by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

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Kyari said the reduction in fuel demand from about 66.7 million litres daily before the removal of subsidy to about 46 million currently also meant a 30 percent reduction in NNPCL’s demand for foreign exchange to import fuel.

He also said oil production has ramped up to 1.6 million barrels by Wednesday from less than one million some months ago.

More details on this news website soon.