News
No Authentic Data On Fuel Consumption -Statistician General …As Expert Says $1.2bn On Fuel Import Criminal

Although Nigeria is Africa’s largest oil producer, it is also one of the continent’s largest importer of refined petroleum products.
However, despite being a net importer of refined petroleum products, including petrol, no Nigerian government agency has the authentic data on the daily petrol consumption in the country, the National Bureau of Statistics (NBS) has declared.
The Statistician General of the Federation, Yemi Kale, told our correspondent that all data currently in circulation in the media and some government agencies were either outdated or guesstimates.
Mr Kale, who spoke in Abuja through his technical assistant, Esiri Ojo, during a telephone interview with our reporter, said these estimated data cannot be relied upon for planning or policy decisions.
“At the moment we (NBS) do not have any reliable data on fuel consumption yet. We are working on a survey that would provide the information for the sector. Every other figure you hear being carried about by various agencies, and even the media, are just guesstimates,” Mr Ojo said.
The NBS is Nigeria’s central repository of all data and statistics on all activities in all sectors of the country’s economy.
The spokesperson of state-owned oil company, the Nigerian National Petroleum Corporation (NNPC), Ndu Ughamadu, also confirmed the country was yet to have reliable fuel consumption data.
“The NNPC has no confirmed data or statistics on fuel consumption in the country. The corporation relies on figures provided by PPPRA (Petroleum Products Pricing Regulatory Agency),” Mr Ughamadu said in a telephone chat with our correspondent.
Fuel marketers used the figure to make subsidy claims from government for supply of petroleum products.
On February 7, 2017, the Minister of State for Petroleum Resources, Ibe Kachikwu, told a House of Representatives committee that daily consumption of petrol was 28 million litres.
The minister said the figure dropped from about 50-55 million litres a day that the PPPRA was using for fuel subsidy payment.
The NBS’ latest petroleum products consumption statistics is November 2016. In the publication, the agency said about 12.66 billion litres of petrol was consumed in the country between January and September of the year.
The number of days between January 1, 2016 and September 30, 2016 were 273, or eight months and 29 days. The Bureau said the figure translated to about 51.87 million litres per day.
But, the figure is higher than the petrol consumption data published by NNPC in its annual statistics bulletin on its website.
The publication showed about 17.41 billion litres, or 47.6 million litres per day of petrol was distributed in 2016.
In the wake of the recent fuel crisis in the country, the Group Managing Director of the NNPC, Maikanti Baru, triggered another controversy over the issue.
In March this year, during a meeting with the Comptroller General of Customs, Hameed Ali, Mr Baru said under-recovery (considered by many to be a veiled name for subsidy) cost per annum by the NNPC was estimated at about N774 billion for petrol supply.
But, Mr Ughamadu, clarified to our correspondent that the figure Mr Baru gave was not “real expenditure”.
He said it was a mere projection based on the price of crude oil at a certain level at the international market and the landing cost of fuel in the country.
With increasing crude oil price in the international market and a corresponding increase in petrol importation cost, Mr Ughamadu said there was a huge price differential between the regulated price at the pump and the deregulated market price in the neighbouring countries.
What this means is: With retail petrol price fixed at about N145 per litre and open market price above N171 per litre, the differential price stands at N26 per litre.
Based on a projection of about 35 million litres per day consumption, the level of under-recovery, or subsidy, will come to about N774 billion per annum.
Mr Ughamadu said the under-recovery of N774 billion per annum was based on projections on the volume of fuel consumption per day and the price of crude oil at the international oil market.
A breakdown of the figure will come to about N64.5 billion per month, or N2.081 billion per day.
With the price differential between the open market price of N171 and the approved retail price of N145 per litre, further analysis shows an average daily consumption of about 30 million litres.
The NNPC spokesperson said in recent times petrol evacuation from depots witnessed an abnormal upsurge, from below 30 million litres per day in August 2017 to an average of over 50 million litres. He said figure later rose to a peak of about 84.2 million litres on December 8, 2017.
“The higher the price of crude oil, the higher the landing cost and the price of petroleum products at the pump in the country,” he said.
Based on NNPC projections, if petroleum consumption rises to about 45 million litres per day, under-recovery cost would equally rise to about N993 billion per annum.
At 50 million litres per day, the under-recovery will grow to N1.11trillion; 55 million litres per day (N1.22 trillion); 60 million litres per day (N1.33 trillion); 65 million litres per day (N1.44trillion) and 70 million litres per day (N1.55 trillion) per annum.
A fortnight ago, Mr Kachikwu also said the under-recovery cost had risen to about N1.4 trillion per annum, an indication that the petroleum resources ministry may have based the petrol consumption level at NNPC projection of 65 million litres per day.
Although the minster later withdrew the the statement on the figures, he said the Ministry of Petroleum Resources was working with some agencies to produce an authentic figure that would soon be made public.
Mr Kachikwu may have made a veiled reference to the survey the NBS said it was currently working on in collaboration the Ministry of Petroleum Resources, NNPC, PPPRA and Petroleum Equalisation Fund to produce an authentic data on fuel consumption in the country.
Mr Ojo said the survey would involve household and industrial players in the economy, to provide accurate and authentic figures of fuel consumption going forward.
Meanwhile, the Committee on Petroleum Industry Bill (PIB) of the House of Representatives has been told that it was criminal for the federal government to expend a whooping sum of $1.2 billion on importation of petrol into the country in one year.
An expert in the oil and gas sector, Dr. Austine Olorunsola made the declaration while fielding questions from the committee chaired by Hon. Ado Doguwa during an interactive session organised by the Petroleum Development Trust Fund (PTDF) on PIB.
A member of the committee, Hon. Sunday Karimi had provoked some thoughts, remarking that the current administration under President Muhammadu Buhari has consistently denied spending money on subsidy despite revelations by the NNPC that it’s spending N1.4trillion annually to bring in the product.
But responding, Olorunsola, who led a technical team of experts in the drafting and presentation of different components of the Petroleum Industry Bill (PIB) said the importation was unnecessary, explaining that the money was enough to build new refineries.
He said: “It’s criminal to spend $1.2billion to bring in products. You can use that amount to build three to four big refineries if you want.
“You can even use that money to open up the market by giving soft loans to private investors if government is not interested in building refineries to establish them so that we can stop importation and create employment”.
The PIB according to the consultant was split into four different components, namely: the Petroleum Industry Governance Bill (PIGB), the Petroleum Industry Administration Bill (PIAB), the Petroleum Industry Fiscal Bill (PIFB), and the Petroleum Industry Host Community Bill (PHCB).
Olorunsola, who also took the committee members through the technical details of different components of the PIB, made up of four proposed legislations underscored the importance of the bill, saying it would engender comprehensive governance of the oil and gas sector in a way that would generate maximum returns to the stakeholders.
He however cautioned the country on over independence on oil, urging that the proceeds be used to diversify the economy to keep pace with other oil economies.
“Nigeria must timely exploit her oil and gas resources to realise maximum value for rapid development of her economy.
“So, we need to move pretty fast. The US today has become the biggest producer of oil which wasn’t so about eight years ago.
“Now, China has retired most of its coal energy sources and diversified into renewable energy sources with a sea of solar panels being assembled to power cities and industries.
“So, the dynamics are changing as those who were importing before are now exporting, which is why we need to do something different and fast. If you don’t do something quickly about what you have, the value of it will be completely eroded.
“The essence of managing oil resources is to provide the best possible economic outcome for all stakeholders, ensure optimal utilisation of all infrastructure ; to ensure operations is managed in safe and environmentally sustainable manner. To satisfy today and ensure sufficient savings for the rainy day and future generations”, Olorunsola said.
He urged the Deputy Chairman of the Ad-hoc Committee, Hon. Victor Nwokolo (PDP, Delta) who is incidentally the chairman, House Committee on Petroleum (Upstream), and indeed, the National Assembly at large to pass the remaining three bills along with the PIGB for onward delivery to president Buhari for his assent.
News
Tinubu Orders Security Chiefs To Restore Peace In Plateau, Benue, Borno

President Bola Tinubu has ordered a security outreach to the hotbeds of recent killings in Plateau, Benue and Borno States, to restore peace to areas wracked by mass killings and bomb attacks.
National Security Adviser, Nuhu Ribadu, disclosed this to State House correspondents after a four-hour security briefing with the President at the Aso Rock Villa, Abuja on Wednesday.
“We listened and we took instructions from him. We got new directives…to go meet with the political authorities there,” Ribadu told reporters, adding that Tinubu directed them to engage state-level authorities in the worst-hit regions.
Director-General, National Intelligence Agency, Mohammed Mohammed; Chief Defence Intelligence of the Nigerian Army, Gen. Emmanuel Undianeye; Director-General, Department of State Services, Oluwatosin Ajayi and Chief of Staff to the President, Femi Gbajabiamila, appeared for the briefing.
The Tide’s source reports that in Plateau State, inter-communal violence between predominantly Christian farmers and nomadic herders spiralled into gory slaughter when gunmen stormed Zikke village in Bassa Local Government early on April 14, killing at least 51 people and razing homes in a single night.
In Benue, at least 56 people were killed in Logo and Gbagir after twin assaults blamed on armed herders.
Meanwhile, in Borno State, eight passengers perished and scores were injured when an improvised explosive device ripped through a bus on the Damboa–Maiduguri highway on April 12.
Ribadu explained that after an extensive briefing, intelligence chiefs received fresh instructions to restore peace, security and stability across Nigeria.
“In particular, Tinubu had ordered immediate outreach to the political authorities in Plateau, Benue and Borno States, and the defence team had gone round those States to carry out his directives and report back.
“We gave him an update on what has been the case and what is going on, and even when he was out there, before coming back, he was constantly in touch. He was giving directives. He was following developments, and we, in charge of the security, got the opportunity today to come and brief him properly for hours. And it was exhaustive.
“We listened and we took instructions from him. We got new directives. The fact is, Mr. President is insisting and working so hard to ensure that we have peace, security and stability in our country. We gave him an update on what is going on, and we also assured him that work is ongoing and continues.
“We also carried out his instructions. We went round, the chiefs were all out where we had these incidents of insecurity in Plateau State, Benue State, even Borno, these particular three states, and we gave him feedback, because he directed us to go meet with the political authorities there,” the NSA explained.
Ribadu described Tinubu as “worried and concerned,” and said he directed that all security arms be deployed around the clock.
The government, he added, believes these steps have already produced measurable improvements, even if the situation is not yet 100 per cent safe and secure.
“He’s so worried and concerned, he insisted that enough is enough, and we are working and to ensure that we restore peace and security and all of us are there. The armed forces are there, the Civil Police, intelligence communities, they are there.
“They are working there 24 hours, and we feel that we have done enough to believe that we are on the right course, and we’ll be able to be on top of things,” Ribadu stated.
The NSA emphasised that combating insecurity was not solely a Federal Government responsibility.
He stated, “The issue of insecurity often is not just for the government. It involves the subunits. They are the ones who are directly with the people, especially if some of the challenges are more or less bordering on community problems.
“Not entirely everything is that, but of course it also plays a significant role. You need to work with the communities, the local governments, and the governors, especially the governors.
“The President will continue to direct that. We should be doing that, and that’s what we are able to. We are very happy and very satisfied with the instructions and directives given by Mr. President this evening.”
In Borno State, the NSA noted that while violence had surged in recent months, the insurgents refused to accept defeat.
He warned that most recent casualties there resulted from improvised explosive devices—”cowardly” IED attacks targeting civilians—and from opportunistic raids that follow any lull in fighting.
“We are getting the cooperation of the leadership at the state level, and everybody. It’s not 100 per cent…but we are going there.
“When you are having peace and you are beginning to get used to it, if one bad incident happens, you forget the periods that you enjoyed peacefully,” he added.
He paid tribute to the “many who do not sleep, who walk throughout, who do not go for any break or holiday”—the soldiers, police and intelligence officers whose sacrifices have created the fragile calm Nigerians now experience.
“They will continue to be there,” he said, adding, “Things have changed in this country…we are on the right track and we will not relent. We will not sit down; we will not stop until we are able to achieve results.”
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FG Laments Low Patronage Of Made-In-Nigeria Products

A Federal Government agency – the National Agency for Science and Engineering Infrastructure, has decried the low patronage of Nigerian-made products by Nigerians.
The agency identified some challenges leading to the low patronage of the local products as affordability and public perception, among others.
Speaking during a stakeholders meeting organised by the agency in Akure, Ondo State capital, yesterday, the Deputy Director of Engineering at NASENI, Mr Joseph Alasoluyi, said Nigerians preferred buying foreign goods compared to local goods.
Alasoluyi, however disclosed that the agency had trained over 50 participants in the production of hand-made products, in a bid to ensure Nigeria-made products are patronised.
He explained that NASENI was set up to promote science, technology, and engineering as a foundation for Nigeria’s development and currently operates 12 institutes nationwide to achieve its objectives.
According to him, the aim of President Bola Tinubu, who is also the overall chairman of NASENI, was to ensure high production and patronage of “our local products thereby creating employment opportunities for many.”
He said, “The idea of this programme is to interface to ensure we produce products using our indigenous technology. This is what NASENI is out for, to ensure that homegrown technologies are encouraged.
“We are out there to ensure we integrate efforts to ensure that local technology is used to develop products within the resources we have.
“ The NASENI’s ‘3 Cs’ – Creation, Collaboration, and Commercialisation – that define NASENI’s strategic mandate: Creating innovations through research, Collaborating with partners to develop and refine products, and Commercialising these solutions to benefit the economy.
“Our achievements include the development of solar irrigation systems, CNG conversion centres, building machines capable of producing up to 1,000 blocks per hour, 10-inch tablets, locally made laptops, and electric tricycles (Keke Napep) set for market launch.”
In his remarks, the Deputy Vice Chancellor of the Federal University of Technology, Akure, Prof. Samuel Oluyamo, blamed the Federal Government for not properly funding research in the varsities, also noting that many research outputs were left halfway due to lack of funding and weak linkages between research institutions and industry.
Oluyamo also queried the Federal Government’s commitment to funding research and development, saying many academic innovations remained on the shelve due to a lack of support for commercialisation and poor infrastructure.
“Until we upscale research into mass production, technological growth will remain elusive. The government is not funding research in the universities enough. Thank God for TETfund that is trying in this regime. The major interest in beefing up research in universities and research institutions is really not there,” he said.
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Nigeria Seeks Return To JP Morgan Bond Index
The Director-General of the Debt Management Office, Patience Oniha, has said that Nigeria is in advanced discussions with JP Morgan to re-enter the Government Bond Index and renew investors’ confidence.
Oniha disclosed this on Wednesday at a Nigerian Investors’ Forum on the sidelines of the World Bank and International Monetary Fund Spring Meetings in Washington, D.C.
The DMO boss explained that Nigeria has enjoyed favourable credit assessment among rating agencies in recent times on the back of the sweeping reforms initiated by the Central Bank of Nigeria.
Fitch Ratings recently upgraded the Long-Term Issuer Default Ratings of seven Nigerian banks and two bank holding companies to ‘B’ from ‘B-‘, noting that the outlooks are Stable.
The affected issuers are Access Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, Guaranty Trust Bank Limited, Guaranty Trust Holding Company Plc, First HoldCo Plc, First Bank of Nigeria Ltd, Fidelity Bank Plc and Bank of Industry Limited.
The upgrades of the Long-Term IDRs of the banks followed the recent sovereign upgrade and reflect Fitch’s view that Nigeria’s sovereign credit profile has become less of a constraint on the issuers’ standalone creditworthiness, the rating agency said.
Fitch also upgraded Nigeria’s Long-Term IDRs to ‘B’ from ‘B-‘ on 11 April, a decision that reflected increased confidence in the government’s broad commitment to policy reforms implemented since its move to orthodox economic policies in June 2023, including exchange rate liberalisation, monetary policy tightening and steps to end deficit monetisation and remove fuel subsidies.
“These have improved policy coherence and credibility and reduced economic distortions and near-term risks to macroeconomic stability, enhancing resilience in the context of persistent domestic challenges and heightened external risks,” Fitch said.
Nigeria was removed from the JP Morgan index in 2015 ostensibly due to its deviation from orthodox monetary policies and influence of capital control in its management of foreign exchange.
Principally due to reduction in oil revenues at the time, Nigeria introduced currency restrictions to defend the naira after it failed to halt a dangerous slide with burning of dollar reserves. The bank had earlier warned Nigeria to restore liquidity to its currency market in a way that allowed foreign investors tracking the index to conduct transactions with minimal hurdles.
“Foreign investors who track the GBI-EM series continue to face challenges and uncertainty while transacting in the naira due to the lack of a fully functional two-way FX market and limited transparency,” the bank said in a 2015 note.
Nigeria was listed in JP Morgan’s emerging government bond index in October 2012, after the Central Bank removed a requirement that foreign investors hold government bonds for a minimum of one year before exiting.
The JP Morgan Government Bond Index reflects investor confidence and opens doors to billions of investment flows, making Nigeria’s proposed re-entry a positive signal to the market and investors.
Oniha explained that talks with JP Morgan were ongoing and had gained momentum in recent times due to the stability created by the FX market reforms.
“With all the reforms that have taken place, particularly around FX, we have started engaging JP Morgan again to get back into the index. We think we are eligible now,” the DMO DG said.
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