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By Adewale Sanyaolu
Nigerians spent about N1.803 trillion on Premium Motor Spirit (PMS), otherwise called petrol in October, Daily Sun findings have shown.
Using statistics released by the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) released at the weekend, Nigeria’s daily petrol consumption rose to 56.74 million litres in October, translating to 1.758.94 billion litres of petrol for the month under review.
According to latest data by the National Bureau of Statistics (NBS), the average retail price paid by consumers for Petrol in July 2025 was N1024.99, indicating a 33.02 per cent increase compared to the value recorded in July 2024 (N770.54).
NBS is yet to release the average retail price of petrol for the months of August, September and October.
So, going by the July average retail price of petrol at N1024.99, multiplied by 1.758.94 billion litres consumed in October gives a total spent of N1.803 trillion.
The October consumption figure, according to NMDPRA, represents the total nationwide demand recorded across fuel distribution channels during the month.
The regulatory authority noted that of the total consumption, 27.6 million litres were imported, while 17.08 million litres were supplied by local refineries.
Further findings revealed that the 12.06 million litres of petrol shortfall in supply for the month of October 2025 were bridged from excess/ unutilised supply for September 2025.
This continued shift toward domestic production, NMDPRA added, reflects gradual progress in the government’s drive to enhance self-sufficiency in petroleum supply.
Over a one-year period, from October 2024 to October 2025, Nigeria consumed an average of 661.5 million litres of petrol monthly, demonstrating the country’s sustained high demand for Premium Motor Spirit (PMS).
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The statistics also revealed that an average of 44.7 million litres of PMS was supplied to the domestic market daily in October.
Consumption for the month represented the peak within the one-year period under review, followed closely by November 2024 (56 million litres) and April 2025 (55.2 million litres).
A key highlight of the report is the performance of the Dangote Refinery, which supplied an average of 18.03 million litres of PMS daily.
This, according to the report, is still below its planned full refining capacity of 35 million litres per day, but the NMDPRA described it as a significant milestone in reducing Nigeria’s reliance on imported fuel.
In contrast, the three refineries operated by the Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded no PMS output during the period, as they remained under various stages of rehabilitation or maintenance.
Beyond PMS, Nigerians consumed an average of 17.13 million litres of diesel daily in October, alongside 2.61 million litres per day of aviation fuel.
Consumption of Liquefied Petroleum Gas (LPG) stood at 6,095 metric tonnes per day, further highlighting Nigeria’s heavy reliance on refined petroleum products across transportation, aviation, and household energy.
The NMDPRA said the fact sheet was important as “the verified data underscored Nigeria’s strategic transformation in the energy sector, emphasising reduced imports, strengthened domestic production, job creation, safety improvements, and economic stability.”
The country achieved an overall refining capacity utilisation rate of 61.58 per cent, signalling improved operational efficiency compared to previous periods of low or near-zero output.
Despite persistent challenges, including technical constraints and limited crude oil supply to refineries, the NMDPRA said the refining utilisation rate is gradually improving, reflecting ongoing efforts by both government and private operators to reposition Nigeria’s downstream petroleum sector.
