N2trn Worth Of Petrol Consumed In 12months, Says NNPC

 

The Nigerian National Petroleum Corporation (NNPC) has stated that consumers in the country spent N2.07 trillion in 12 months (February 2020-2021) on the consumption of premium motor spirit (PMS) better known as petrol.

This was contained in the NNPC’s monthly financial operations report (MFOR) for February 2021.

According to the report, a total of 17,324.67 billion litres of white products was sold in the period under review.

This comprised 17,215.17 billion litres of petrol, 101.69 million litres of automotive gas oil (AGO), also known as diesel, and 7.80 million litres of dual-purpose kerosene (DPK).

“A total sum of N188.15 billion was made on the sale of white products by Petroleum Products Marketing Company (PPMC), a subsidiary of the NNPC, in the month of February 2021 compared to N190.72 billion sales in January 2021,” the report reads.

“Total revenues generated from the sales of white products for the period February 2020 to February 2021 stood at N2,070.34 trillion, where PMS contributed about 99.13% of the total sales with a value of N2,106.69 trillion.”

The report also showed that NNPC recorded a trading surplus of N39.85 billion in February 2021, representing an increase of 314.24 percent, compared to the N9.62 billion surplus recorded in January 2021.

The corporation further said 54 pipelines were destroyed in the same month — increase of 50 percent from 27 pipeline points recorded in January 2021.