News
Nigeria’s daily petrol consumption rises from 30m litres to 60m – NMDPRA
Nigeria’s daily petrol consumption rises from 30m litres to 60m – NMDPRA
The jigsaw puzzle surrounding the quantity of petrol, otherwise called Premium Motor Spirit (PMS), Nigeria consumes daily just got more puzzling as Sunday Vanguard understands that the figure went down to about 30 million litres per day after President Bola Tinubu’s ”subsidy is gone” statement of May 29, 2023, only to dramatically return to more than 60 million litres.
Multiple sources attributed the ‘magical’ rise to renewed smuggling of the product into neighbouring countries where the price of the product is significantly higher than it is in Nigeria.
Until Tinubu ‘removed’ the petrol subsidy via the 2023 Inauguration Day speech, the product sold for N254 but rose subsequently to N617 in Abuja and thereabouts in some parts of the country.
In Lagos where it was cheapest, it sold for about N568 while it sold higher in other South-West states like Ogun, Oyo, Ondo, Osun and Ekiti.
In the North, South-South and South-East, it was a different ballgame as the price of petrol skyrocketed above N615 while independent marketers sold above N800.
The quantity of petrol consumed daily in Nigeria has for a long time been a controversial issue with many stakeholders saying it was shrouded in secrecy especially since the quantity determined the amount to be paid as a subsidy which many people including government officials benefited from.
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According to the Nigerian National Petroleum Corporation Limited (NNPCL), in the first three months of 2022, Nigeria recorded an average daily consumption of 64.14 million litres, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) revealed in September 2022 that Nigeria’s average daily petrol consumption was 66.8 million litres.
However, at the beginning of 2023, the Group Chief Executive Officer of the NNPC Limited, Mele Kyari, said there was no credible data to ascertain the daily consumption of petrol in Nigeria while also stating that there was credible data on the actual volume of petrol evacuated from the depots.
Analysts believe the figures quoted are often that high. The bulk of the petrol earmarked for the local market is usually taken by smugglers across the borders, especially to neighbouring countries, where the price of the product is very high because they don’t produce oil.
The smuggling of the product across borders guarantees huge profits for those involved while subsidy also guarantees huge returns for marketers and government officials among others in the system.
But following the Inauguration Day pronouncement of Tinubu (subsidy is gone), daily consumption of petrol in Nigeria, according to sector regulator fell significantly.
Analysis of daily truck-out data published by the NMDPRA revealed that petrol consumption had reduced by more than 24 million litres per day on average.
The average daily consumption in May 2023 was 69.54 million liters which fell to 49.48 million liters in June, representing a 28.3% drop.
In July, this margin increased further to 34.61%, the equivalent of 24.06 million litres, and average daily consumption for the month fell further to 45.74 million litres.
The price of petrol in neighbouring Benin Republic and Cameroon immediately soared, confirming the claim that both countries, among others, were befitting of the Nigerian subsidy regime.
Nigeria’s daily petrol consumption rises from 30m litres to 60m – NMDPRA
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News
Mexico Clears Reno Omokri as Nigeria’s Ambassador After Eight-Month Wait
Mexico Clears Reno Omokri as Nigeria’s Ambassador After Eight-Month Wait
The Mexican government has granted diplomatic approval for Reno Omokri’s appointment as Nigeria’s ambassador to Mexico, ending an eight-month wait for the confirmation of his posting by the host country.
Omokri disclosed this in a post on his X account on Tuesday, saying José Manuel Briseño Flores, chargé d’affaires of the Embassy of Mexico in Abuja, had delivered the diplomatic approval, known as agrément, to Babagana Wakil, Director of Protocol at Nigeria’s Ministry of Foreign Affairs.
The approval covers Omokri’s appointment as Ambassador Extraordinary and Plenipotentiary to Mexico, with concurrent accreditation to Guatemala, Honduras and Nicaragua.
“ To God be the glory, the Chargé d’affaires of the Embassy of the United Mexican States in Abuja, Mr José Manuel Briseño Flores, today in Abuja delivered the agrément from the Government of the United Mexican States accepting me,” Omokri said.
The development clears a major hurdle in the process of deploying the former presidential aide and political commentator to his diplomatic assignment, following months of uncertainty over the status of his appointment.
President Bola Tinubu had in March approved the posting of 65 ambassador-designates and high commissioners to various countries as part of efforts to strengthen Nigeria’s diplomatic representation abroad.
Omokri was among those named for ambassadorial postings, with Mexico designated as his principal country of assignment.
However, his deployment could not be concluded immediately because Mexico had yet to formally accept his nomination, a necessary step in the diplomatic appointment process.
Under established diplomatic practice, a government seeking to appoint an ambassador must obtain the receiving country’s agrément before the nominee can be formally deployed. The procedure allows the host country to indicate its acceptance of the proposed envoy.
In August, the Ministry of Foreign Affairs disclosed that Mexico and Japan were among the countries that had yet to communicate formal acceptance of two outstanding ambassadorial appointments.
The ministry said it was engaging the relevant authorities in the affected countries and expressed confidence that the outstanding approvals would be secured in due course.
Mexico’s decision now resolves the uncertainty surrounding Omokri’s posting, although the completion of any remaining formalities and the commencement of his diplomatic duties may still depend on the applicable procedures.
Omokri, a former aide to ex-President Goodluck Jonathan, is known for his political commentary and frequent interventions in Nigeria’s public discourse. His appointment forms part of the Tinubu administration’s wider effort to fill key diplomatic positions and strengthen the country’s engagement with foreign governments.
With the approval secured, attention will now turn to the completion of the remaining diplomatic formalities and his eventual assumption of duty in Mexico.
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News
Delta Mourns as Former Governor Uduaghan Dies After Brief Illness
Delta Mourns as Former Governor Uduaghan Dies After Brief Illness
A former Governor of Delta State, Dr Emmanuel Eweta Uduaghan, has died at the age of 71 after a brief illness, his family announced on Monday.
Uduaghan, who governed Delta State for eight years between 2007 and 2015, died on the morning of October 19, 2026, according to a statement issued by the family and signed by Toju Andre Uduaghan.
The family described his death as a devastating loss, saying his life and years of public service touched many people across Delta State and Nigeria.
The statement, titled “Announcement of the Passing of His Excellency, Dr Chief Emmanuel Eweta Uduaghan,” read in part, “It is with hearts weighed down by immeasurable grief and profound sorrow that we announce the passing to glory of our beloved Father, Brother, Uncle, and Patriarch.”
The family said Uduaghan was a source of strength and a respected elder whose contributions to public service and family life would remain indelible.
“He served as Commissioner for Health from 1999 to 2003, Secretary to the Delta State Government from 2003 to 2007, and Governor of Delta State from 2007 to 2015,” the statement said.
It added that throughout his years in public service, the former governor demonstrated a commitment to the human and infrastructural development of the state.
The family described his death as a profound loss not only to his relatives but also to the people of Delta State and the country at large.
While expressing gratitude to God for his life and legacy, the family prayed for the repose of his soul and for divine comfort for those mourning his death.
“We pray that Almighty God, in His infinite mercy, will grant his soul eternal rest and comfort our family, friends, associates, former colleagues, and all who mourn this painful loss,” the statement added.
The family said Uduaghan’s memory would remain alive through the lives he touched and the legacy he left behind.
“Rest well, our beloved Father, Brother, and Uncle. Your memory will forever remain in our hearts, and your legacy will endure in the lives of those you touched,” it said.
The statement concluded with a prayer for the peaceful repose of his soul.
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News
FG Challenges World Bank’s 124% Debt-to-Revenue Warning, Cites Rising Income
FG Challenges World Bank’s 124% Debt-to-Revenue Warning, Cites Rising Income
The Federal Government has disagreed with the World Bank’s assessment that its interest payments consumed 124 per cent of revenue in the first half of 2026, describing the calculation as misleading and arguing that it fails to capture the full picture of Nigeria’s public finances.
The dispute followed the World Bank’s October 2026 Nigeria Development Update, which reported that the Federal Government spent ₦7.7 trillion on interest payments between January and June 2026, compared with revenue of ₦6.2 trillion.
The figures imply an interest-to-revenue ratio of approximately 124 per cent, meaning the government’s interest bill exceeded its reported revenue by about ₦1.5 trillion during the six-month period.
However, the Federal Ministry of Finance, in a statement issued on Sunday, October 18, argued that the comparison combined debt obligations covering different tiers of government with a revenue figure that did not include all government earnings.
The ministry said the interest-payment figure included debts serviced by the Federal Government on behalf of other tiers of government, including external loans obtained by state governments.
It argued that comparing these obligations with federal revenue alone overstated the ratio because the figures did not cover the same level of government.
The ministry also said the revenue figure excluded independent income already earned by government agencies and enterprises but not yet remitted to the Treasury.
According to the ministry, the timing of tax collections also affects first-half revenue figures, as some statutory payments are concentrated in the second half of the year. It therefore maintained that a six-month comparison should not be treated as a definitive assessment of Nigeria’s debt sustainability.
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To support its position, the government highlighted an improvement in revenue collection between the first halves of 2025 and 2026.
The ministry said Federal Government revenue increased by 72 per cent, rising from ₦3.6 trillion in the first half of 2025 to ₦6.2 trillion in the corresponding period of 2026.
Interest payments, meanwhile, rose by 38 per cent, from ₦5.6 trillion to ₦7.7 trillion over the same period.
The ministry said the difference between interest payments and revenue consequently narrowed from ₦2 trillion in the first half of 2025 to ₦1.5 trillion in the first half of 2026.
It added that the interest-to-revenue ratio fell from 156 per cent to 124 per cent, a decline of 32 percentage points.
The government attributed the improvement to its economic reforms, arguing that revenue was growing faster than interest costs and that the figures did not, on their own, establish that Nigeria was facing a debt crisis.
The ministry further argued that debt sustainability should be assessed using full-year figures, rather than a six-month snapshot that may not reflect the timing of revenue collection and debt payments.
It cited the World Bank’s projection that Nigeria’s full-year 2026 debt service, covering both interest and principal repayments, would amount to 46 per cent of revenue.
The ministry described the projected full-year ratio as a more appropriate benchmark for assessing the government’s debt obligations.
It also defended the Federal Government’s borrowing programme, insisting that borrowing remained within the limits approved by the National Assembly under the 2026 Appropriation Act and the approved borrowing plan.
According to the ministry, the government’s borrowing activities comply with the Fiscal Responsibility Act 2007 and the Debt Management Office (Establishment) Act 2003, with debt information published regularly by the Debt Management Office.
Despite the government’s objections, the reported figures highlight the pressure that rising interest costs can place on public finances. When interest payments absorb a large share of government revenue, fewer resources may be available for infrastructure, healthcare, education and other public services.
The central disagreement, therefore, concerns the appropriate basis for measuring Nigeria’s debt burden. While the World Bank’s reported figures point to interest payments exceeding federal revenue in the first half of 2026, the Finance Ministry insists that differences in government coverage and revenue timing make the ratio an incomplete measure of the country’s fiscal position.
FG Challenges World Bank’s 124% Debt-to-Revenue Warning, Cites Rising Income
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