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NNPC earns N223bn from petroleum products sale


A subsidiary of the Nigerian National Petroleum Corporation (NNPC), Petroleum Products Marketing Company (PPMC), has realized N222.929 billion from the sale of petroleum products in the country in January 2019.

This was contained in the NNPC Monthly Financial and Operations Report for the month. The report revealed that the PPMC earned N221.759 billion from the sale of white products (petrol, diesel, and kerosene), while N1.71 billion was earned from the sale of special (Low Pour Fuel Oil) petroleum products.

However, the amount earned from petroleum products sale in January 2019 represented an 8.09 percent decline from N242.564 billion recorded in December 2018.

The report disclosed that earnings for January from petrol, diesel, and kerosene stood at N208.65 billion, N9.7 billion and N3.41 billion respectively, while LPFO sales fetched the PPMC N1.71 billion.

In the previous month, white products revenue stood at N241.46 billion, with petrol, diesel, and kerosene accounting for N237.12 billion, N1.31 billion and N3.03 billion respectively, while LPFO sales stood at N1.08 billion.

In volume terms, the report noted that in January 2019, total petroleum products sales stood at 1.773 billion liters, dropping by 9.82 percent compared to 1.966 billion recordings in December 2018. Petrol, diesel and kerosene sales stood at 1.69 billion, 51.05 million liters and 17.96 million liters respectively, while LPFO and other special petroleum products sales stood at 8.23 million liters and 150,000 liters respectively.

Source Tribune
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