Europe’s petrol export market shrinks as Nigeria’s consumption drops

By Adewale Sanyaolu
European refiners will lose a portion of a key export market for gasoline after Nigerian consumption slumped following the removal of the fuel subsidies in the African country.
Recall that President Bola Tinubu, had in his inauguration speech on May 29, 2023, announced an end to fuel subsidy.
The removal of the fuel subsidy to the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) has led to a 35 per cent drop in average daily gasoline consumption in Nigeri