The Major Oil Marketers Association of Nigeria, MOMAN has blamed subsidy behind reason for the recent surge in daily consumption of Premium Motor Spirit, PMS or petrol in Nigeria.

In a chat with SweetcrudeReports over the weekend over the sudden increase in petrol consumption in Nigeria, Tunji Oyebanji, Chairman of the Association said although most stakeholders estimate Nigeria’s daily petrol consumption to be less than 55 million liters, findings indicate that Nigeria does not exclusively consume this amount of the product as a huge chunk is being smuggled to these neighbouring countries due to subsidy.

“Prior to the regime of President Muhammadu Buhari, Nigeria’s petrol consumption was estimated at between 35 million to 40 million litres daily, less than six years after, the country’s average daily consumption have skyrocketed to over 72.72 million liters per day from 57.44 million litres sold a month earlier, exposing the thriving activities of smugglers in the nation’s petroleum industry”.

SweetcrudeReports had earlier reported its recent findings that daily consumption of the product in Nigeria had recently increased to 80 million litres per day.

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Source: SweetCrudeReports