The National Bureau of Statistics (NBS) has reported a significant decline in petrol consumption in Nigeria for 2023. According to the bureau’s Petroleum Products Distribution Statistics released on Tuesday, Nigeria recorded 20.30 billion litres of petrol consumption in 2023, a 13.77% decrease from the 23.54 billion litres consumed in 2022.

The report highlighted contrasting trends for other petroleum products. Diesel imports surged by 23.66%, with 4.94 billion litres imported in 2023, compared to 4.00 billion litres in 2022. Additionally, petrol truck-out volumes, which refer to the amount distributed from depots to various locations, also saw a 16.96% decrease, with 20.22 billion litres in 2023 compared to 24.35 billion litres in 2022.

In terms of locally produced products, household kerosene production experienced a notable increase of 56.02%, with 69.71 million litres produced in 2023 compared to 44.68 million litres in 2022. Diesel production also saw a modest rise of 6.76%, with 109.39 million litres produced locally in 2023, up from 102.47 million litres in 2022.

The report provides insights into the changing dynamics of Nigeria’s fuel consumption and production, reflecting both global market conditions and domestic policy shifts.