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Former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, on Saturday, queried the volume of Nigeria’s daily consumption of Premium Motor Spirit also known as petrol.
Sanusi described as unbelievable the claim by the Nigerian National Petroleum Company (NNPC) Limited that Nigeria consumes 66 million litres of fuel daily.
“Are we drinking the petrol?” the former governor of the apex bank queried when he delivered a keynote speech at the seventh edition of KadInvest, an annual event organised by the Kaduna State Investment Promotion Agency.
Sanusi lamented the bogus amount spent on subsidy payment annually, and demanded that the NNPC be unbundled and disbanded, noting that the company should not continue as a cash cow for a few Nigerians.
He blamed the lack of revenue in the country on what he called the subsidy free-for-all.
“NNPC tells us officially that we are consuming 66 million litres per day…We are consuming more than Indonesia, Pakistan, Egypt, Cote d’Ivoire and others.
“In 2019 officially, we were importing 40 million litres per day. In 2022, officially, we are importing 66 million per day. In three years, we have increased our petrol consumption by 50%. Please tell me, is it the population? Is it the number of cars? Just ask yourself if it makes sense that in three years you increase your consumption of petrol by 50%,” he said.
The Comptroller-General of the Nigeria Customs Service (NCS), Hammed Ali, had of recent faulted NNPC’s figure on Nigeria’s daily consumption of petrol.
Similarly, Governor Nasir El-Rufai of Kaduna State last Thursday said the NNPC has no business being in the oil sector and should be privatised with immediate effect.
More to follow…
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