By Adedapo Adesanya
The Department of Petrol Resources (DPR) has estimated that residents of Nigeria consume a total of 38.2 million litres of premium motor spirit (PMS), also known as petrol, in one day.
The figure, according to the petroleum resource regulatory agency, was only an estimate, saying it was difficult to know the official volume of commodity consumed daily. It explained that this was arrived at after the federal government set up a committee to determine Nigeria’s actual fuel consumption nationwide.
In its National Stock Reports released on Wednesday, the DPR stated that as at Tuesday, February 25, 2020, the cumulative stock of PMS at depots across the country was 915.772 million litres, dropping by 3.15 per cent from 945.6 million litres recorded on Monday, February 24, 2020.
“As at February 25, 2020, the cumulative depot stock of PMS at the depots was 915,771,566 litres (combined PMS stock owned by PPMC, major and independent marketers) vis-à-vis 945,604,305 litres on February 24, 2020 indicating a decrease of depot PMS stock due to vessel discharges and truck out activities respectively at the depots.
“Applying the estimated daily national demand of 38,200,000 (thirty-eight million two hundred thousand) litres, available depot PMS stock of 915,771,566 litres is sufficient for 24 days,” it said.
The DPR attributed the decline in national PMS stock levels to vessel discharges and truck out activities across the depots.
The DPR report further stated that as at February 25, 2020, stock levels in 40 depots in Lagos stood at 539.99 million litres; while in Calabar/Eket, 82.97 million litres of PMS were available in 11 depots across the state.
In other depots in Warri, Port Harcourt, Umuahia and Kaduna, PMS stock levels stood at 146.94 million litres, 129.19 million litres, 6.99 million litres and 9.68 million respectively.
It stated that on Wednesday that seven vessels discharged 61.055 million litres of PMS at depots in the Lagos Zone, bringing PMS stock levels in Lagos to 537.95 million litres after daily truck out.
There are, however, steps been taken to determine the actual volume consumed daily as the figure is important in determining the country’s revenue, as well as the amount the country spends on fuel subsidy.
Modupe Gbadeyanka