According to a new report released by National Bureau of Statistics (NBS) Nigerians spend a staggering N327.05 billion annually on petrol and diesel.
The report, which was the latest Nigeria Residential Energy Demand-Side Survey Report 2024 shows fresh insight into the nation’s energy consumption patterns.
The report reveals that the average annual expenditure on petrol and diesel per household stands at N537,022.
This figure highlights the financial strain many Nigerians face as they grapple with high fuel costs, a situation exacerbated by the erratic electricity supply from the national grid, which forces many to rely on generators powered by petrol and diesel.
NBS data also shows that the total quantity of petrol and diesel consumed annually amounts to 0.45 billion litres, with the average household consuming 733.98 litres over the same period.
Nigeria’s reliance on petrol and diesel is intricately linked to the country’s long-standing energy challenges.
According to experts, the growing cost of petrol and diesel will continue to weigh heavily on Nigerian households unless more affordable, sustainable energy options are made available.
Between September and October, the Nigerian National Petroleum Company (NNPC) Limited increased the price of petrol three times, from N617/litre to N1,037/litre.
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