Nigeria Spent N2.37 Trillion To Import Petrol In 13 Months – NNPC Report

A report by the Nigerian National Petroleum Corporation (NNPC) has shown that Nigeria in 13 months, spent N2.37tn on petrol imported into the country.

The NNPC, on Wednesday, revealed that the total revenue generated from the sales of white products for the period May 2019 to May 2020 was N2.39tn, adding that petrol contributed about 98.84 per cent of the total sales with a value of N2.37tn.

NNPC further said it made N92.58bn through the sale of petrol in May 2020.

The firm revealed that the revenue from petrol sale was generated through its subsidiary, the Petroleum Products Marketing Company.

NNPC also announced a 43 per cent decrease in oil pipeline vandalism in May.

NNPC’s Group General Manager, Group Public Affairs Division, Kennie Obateru, explained that these were contained in the May 2020 version of the corporation’s Monthly Financial and Operations Report.

N92.58bn was made on the sale of white products (only petrol this time) by PPMC during the review period, the report stated.

The oil firm said 950.67 million litres of white products were sold and distributed by the corporation’s downstream subsidiary, PPMC, comprising of 950.67 million litres of Premium Motor Spirit, popularly called petrol, only, with no Automotive Gas Oil or Dual Purpose Kerosene.

The firm reported no sale of special product in the month of May.