Nigeria’s daily petrol consumption has jumped 56 million litres in 2019 from 54 million in 2018, the Petroleum Product Pricing Regulatory Agency, PPPRA, has said.
The agency disclosed this in a statement signed on Sunday by its Executive Secretary, Abdulkadir Saidu, PPPRA said that daily supply of petrol, revealing that consumption of petrol in the country grew from 46 million litres per day in 2017 to 54 million litres in 2018 and 56 million litres in 2019.
According to Saidu, there was no need for panic buying based on availability of the product.
The PPPRA boss said: “The agency has observed the sudden reappearance of queues at some filling stations over speculation of shortfall in the supply of Premium Motor Spirit.
“PPPRA, in line with its mandate to regulate petroleum products supply and distribution as well as establish an industry data bank, has continued to monitor products supply in the sector in line with best practices.
“Thus, PMS average daily supply for the year 2017, 2018 and 2019 are about 46 million, 54 million and 56 million litres respectively. These indicate an improved level of supply in 2019.
“Based on the available data, there is adequate supply of PMS with over 21 days sufficiency.
“PPPRA, therefore, urges fuel consumers across the country to desist from panic buying as the agency would continue to monitor the supply situation and take every step required to ensure that there is no disruption in the supply chain.”