NNPC Says Nigerians Spent N1.7trn On Petrol In 2014

• Nigerians bought a total sum of N1.69 trillion worth of Premium Motor Spirit, also known as petrol, in 2014, according to data obtained from the Nigerian National Petroleum Corporation, NNPC.
• The NNPC, in its 2014 Annual Statistical Bulletin, disclosed 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 – N154.23 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 billion,

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.

Source: Vanguard