Business, Economy

We distributed 1.2 billion litres of petrol distributed in September – NNPC

The Nigerian National Petroleum Corporation (NNPC) has said it distributed and sold about 1.3billion litres of petroleum products, including 1.2billion litres of petrol across the country in the month of September.
Group General Manager, Group Public Affairs Division of the Corporation, Ndu Ughamadu, disclosed this in a statement on Monday in Abuja.

According to him, the figure was captured in the September 2017 edition of the monthly NNPC Financial and Operations Report which was released in Abuja.

The figure shows a 29 per cent increase from the 950.67 million litres of petroleum products posted in the month of August.

According to the report, products which were distributed and sold by the Petroleum Products Marketing Company (PPMC), the downstream subsidiary of the NNPC, also comprised of about 35.58 million litres of kerosene and 86.30 million litres of diesel, while total special products for the month of September 2017 was 9.29 million litres comprising of 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. A further breakdown showed that petrol amounted to 13.65 billion litres and accounts for 87.45 per cent.

“In terms of average daily sales and distribution of petroleum products, the numbers indicated that 42,752, 626 million litres of petroleum were recorded during the period comprising 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,” the statement read.

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

He further put the total revenues generated from the sales of white products for the period of September 2016 to September 2017 at ₦1,877.42 billion, where petrol contributed about 85.08% of the total sales with a value of ₦1,596.98 billion.

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

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