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“Nigerians Spent N1.7 Trillion on Petrol in 2014” – NNPC

According to data obtained from the Nigerian National Petroleum Corporation, NNPC, Nigerians spent about N1.69 trillion on Premium Motor Spirit, also known as petrol, in 2014.

The NNPC, in its 2014 Annual Statistical Bulletin, revealed that 17.4 billion litres of PMS was distributed in the period under review. This translated to an average daily consumption of 47.67 million litres of PMS consumption.

Using the 2014 fuel price of N97 per litre, Nigerians would have spent N1.69 trillion on the consumption of 17.4 billion litres of PMS in the period under review.

The NNPC gave a monthly consumption breakdown as follows: January – 1.5 billion litre – N145.5 billion, February – 1.3 billion litres – N120.3 billion,March – 1.5 billion litres – N137.7 billion, April – 1.4 billion litres – N136.77 billion, May – 1.6 billion litres – N 154.23 billion,June – 1.4 billion litres – N137.7 billion, July – 1.5 billion litres – N145.5 billion, August – 1.4 billion litres – N135.8 billion, September – 1.4 billion litres – N135.8 trillion, October – 1.5 billion litres – N149.38 billion, November – 1.3 billion litres – N125.13 billion, and, December – 1.7 billion litres – N162.96 billion.

Apart from fuel, the Bulletin also indicated that the NNPC and oil marketers distributed a total of 23.503 billion litres of other petroleum products.

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