Nigerians Spent N2.37tn On Petrol In 13 months – NNPC

The data released by the Nigerian National Petroleum Corporation, on Wednesday shows that Nigerians spent N2.37tn on petrol imported into the country in 13 months.

The corporation further stated that the total revenue generated from the sales of imported petrol from May 2019 to May 2020 stands at N2.37tn.

NNPC added that petrol contributed about 98.84 per cent of the total sales with a value of N2.37tn.

According to the corporation, it made the sum of N92.58bn through the sale of petrol in May 2020.

NNPC noted that the revenue from petrol sale was generated through its subsidiary, the Petroleum Products Marketing Company, as the oil firm also announced a 43 per cent decrease in oil pipeline vandalism in May.

NNPC’s Group General Manager, Group Public Affairs Division, Kennie Obateru, noted that the development was revealed in the May 2020 version of the corporation’s Monthly Financial and Operations Report.

Information in the report revealed that the corporation made N92.58bn on the sale of petrol by PPMC during the review period.

The oil firm said 950.67 million litres of white products were sold and distributed by the corporation’s downstream subsidiary, PPMC.

This comprised 950.67 million litres of Premium Motor Spirit, popularly called petrol, only, with no Automotive Gas Oil or Dual Purpose Kerosene.

There was also no sale of special product in the month.