Petrol Is Everywhere, Nobody Is Buying – Hafiz Oyetoro
Nigeria's Daily Petrol Consumption Sees a Sharp Decline Following Fuel Subsidy Removal
Prominent actor and comedian, Hafiz Oyetoro, affectionately known as Saka, expressed astonishment over the sudden, widespread availability of Premium Motor Spirit (PMS), more commonly referred to as petrol, across Nigeria. Notably, the actor made his observations in a video filmed while he was behind the wheel, which showcased his characteristic humor.
In his distinctive light-hearted style, the accomplished entertainer cheekily interrogated Nigerians, “Hey folks! Petrol seems to be everywhere. Nobody seems to be rushing to buy petrol. Is there an issue?” before breaking into spontaneous laughter.
Recent reports, as disclosed by LatestNaija.news, suggest that the unexpected surge in petrol availability could be attributed to the government’s decision to eradicate fuel subsidies, which has led to an inflation in petrol prices. Consequently, the average consumption of PMS in Nigeria significantly reduced from a previous daily volume of 66 million litres to slightly above 40 million litres as of June 2023.
Commenting on the drastic reduction in petrol consumption, the Executive Secretary of the Major Marketers Association of Nigeria (MOMAN), Clement Isong, indicated that consumers had made significant adjustments to their lifestyles due to the increased petrol prices. Isong also pointed out that the sharp decrease in demand, a fall of over 20%, could also be attributed to the fact that Nigeria’s neighbouring countries, who previously imported petrol from Nigeria illegally, had now opted for alternative sources.