As fuel consumption plummets nationwide due to soaring prices, oil marketers have expressed concerns over significant losses, with around 10,000 oil dealers about to shut down.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicate that fuel consumption dropped to 4.5 million litres per day in August 2024, down from 60 million litres per day in May 2023—a staggering 92 per cent decline.
