By Adaobi Rhema Oguejiofor
The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, has revealed that the nation’s fuel consumption has dropped by about 30 percent, following the removal of petrol subsidy by President Bola Ahmed Tinubu.
Kyari discloses this at a media briefing by the Minister of Finance and Co-ordinating Minister of the Economy, Mr. Wale Edun, in Abuja on Friday.
According to him, fuel demand declined from about 66.7 million litres daily to about 46 million litres daily signifying a 30 percent reduction in NNPCL’s demand for foreign exchange to import fuel.
He also said that oil production has mounted up to 1.6 million barrels from a very poor position of less than 1 million barrels few months ago.