After President Bola Tinubu removed the fuel subsidy, Mr.Mele Kyari, the Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPCL), revealed that the consumption of fuel had decreased by 30%.
Speaking at a press conference held by the Minister of Finance and Co-ordinating Minister of the Economy, Mr.dot Wale Edun, in Abuja this afternoon, Kyari said that the decrease in fuel demand, from about 66.7 million liters per day before the removal of the subsidy to about 46 million liters currently, also meant a reduction in NNPCL’s demand for foreign currency to import fuel by 30 percent.
He also disclosed that oil production increased from a very low position of less than 1 million barrels some months ago to 1.6 million barrels by Wednesday, August 30.
