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FG posts N2.56trn revenue from petrol, kerosene, diesel sales

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FG posts N2.56trn revenue from petrol, kerosene, diesel sales

The Nigerian National Petroleum Company Limited (NNPC) has announced that it earned N2.56 trillion revenue from the sale of white products (petrol, kerosene, diesel) in about 13 months.

It also announced that N203.73 billion was made on the sale of white products in the month of July 2021 through its downstream subsidiary, the Petroleum Products Marketing Company.

It said in a statement issued Wednesday in Abuja that the figures were contained in the July 2021 NNPC Monthly Financial and Operations Report.

“The report revealed that total revenues generated from the sales of white products for the period July 2020 to July 2021 stood at over N2.563 trillion where PMS (Premium Motor Spirit, popularly called petrol) contributed about 99.67 per cent of the total sales,” the report read in part.

It further stated that a total of 1.544 billion litres of petroleum products were sold and distributed by the PPMC in the month of July 2021 with PMS accounting for 99 per cent of the total volume.

The report stated that the total sale of petroleum products for the period July 2020 to July 2021 stood at 19.535 billion litres and PMS accounted for 99.73 per cent of total volume.

It also indicated a 5.23 percentage increase in the average daily gas supply to power plants in the month of July 2021, which stood at 759 million standard cubic feet of gas per day.

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