Nigerians collectively spend N327.05 billion annually on petrol and diesel, highlighting the deepening energy crisis, according to the Nigeria Residential Energy Demand-Side Survey Report 2024 by the National Bureau of Statistics (NBS).
With unreliable electricity supply, households rely heavily on fuel-powered generators, spending an average of N537,022 per year and consuming 733.98 litres of fuel. Nationwide, total fuel consumption reaches 0.45 billion litres annually.
The situation has worsened with recent petrol price hikes. Between September and October, NNPC Limited raised fuel prices three times, peaking at N1,037 per litre, while also admitting that fuel subsidies are no longer sustainable.
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The report underscores the urgent need for affordable alternatives, though initiatives like the Presidential Compressed Natural Gas Initiative (PCNGi) and the Energy Transition Plan remain costly for widespread adoption.
Meanwhile, the House of Representatives has called for an immediate reversal of fuel price hikes, warning that rising costs threaten the livelihoods of millions.
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