NNPC Petroleum Products Distribution, Sale Increase by 29%

The Nigerian National Petroleum Corporation (NNPC) distributed and sold about 1.3 billion litres of petroleum products throughout the country in September, a report has said.

A statement issued in Abuja on Monday by Mr Ndu Ughamadu, NNPC Group General Manager Public Affairs Division, said the figure was contained in the Sept. 2017 edition of the monthly NNPC Financial and Operations Report.

“The figure shows a 29 per cent increase from the 950.67 million litres posted in the month of August 2017,’’ the report said.

The report showed that products, which were distributed and sold by the Petroleum Products Marketing Company (PPMC), the downstream subsidiary of the NNPC comprised about 1.2 billion litres of petrol, 35.58 million litres of kerosene and 86.30 million litres of diesel.

“The total special products for Sept. 2017 were 9.29 million litres, comprising 7.43 million litres of Low Pour Fuel Oil (LPFO), and other special products of 1.86 million litres.

“The sale of white products (petrol, kerosene and diesel) for the period September 2016 to September 2017 stood at 15.61 billion litres,” he said.

In terms of average daily sales and distribution of petroleum products, 42,752, 626 million litres of petroleum were recorded during the period.

According to the report, this comprises a daily petrol distribution figure of 38,690,970 million litres, 2,876,745 million litres of diesel, 1,185,906 million litres of kerosene and 2,677,995 million litres of special products.

In terms of revenue generation, PPMC posted a total sales figure of ₦151.42 billion for white products in September 2017, compared to ₦111.36 billion sold in August 2017.

Total revenue generated from the sales of white products for the period September 2016 to September 2017 stood at ₦1,877.42 billion, while petrol contributed about 85.08 per cent of the total sales with a value of ₦1,596.98 billion.

Ughamadu said that the NNPC Financial and Operations Report was usually posted on the NNPC website and in national dailies

to sustain effective communication with stakeholders.

According to him, this is in line with the corporation’s commitment to becoming more accountable and responsive.

The September 2017 NNPC Financial and Operations Report is the 26th edition of the series. (NAN)

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