Just came across some interesting stats:
N16.408 trillion (US$140 billion) is spent annually on putting diesel into generators in Nigeria. The breakdown is as follows:
- Telecoms sector, N6.7 trillion is spent on diesel (to power base stations)
- Petrol stations spend N43.98 billion
- Factories N191.08 billion
- Banks N11.7 billion
- Insurance companies N80 billion
- Residential N7.812 trillion
- Businesses, N1.57 trillion
In terms of petrol to fuel cars, consumption is put at 300,000,000 litres per day.
At the current pump price of N70 per litre, that makes N21 billion per day, N651 billion per month, and N7.812 trillion or U$66.769 billion per annum.
Nigeria’s total fuel bill is therefore N24.22 trillion per year (US$206.77 billion).