Mordi chukwunonso Esther
The Nigerian National Petroleum Corporation (NNPC) has said that its downstream subsidiary, the Petroleum Products Marketing Company, recorded a total of ₦1.95tn from the sale of white products for the period October 2019 to October 2020.
It stated that out the total revenues generated from the sale of white products, Premium Motor Spirit or petrol accounted for about 99.07 per cent of the total sales with a value of over ₦1.9tn for the period.
The company disclosed this on Thursday in its October 2020 edition of the NNPC Monthly Financial and Operations Report.
According to the report, the Petroleum Products Marketing Company, recorded a total of ₦158.04bn from the sale of white products in the month of October 2020.
The report revealed that in terms of volume, the October 2020 sales figure translates to a total of 1,224.54 billion litres of white products sold and distributed by PPMC within the period compared with 603.39 million litres in the month of September 2020.
This comprised 1,224.20 billion litres of PMS, 0.31 million litres of Automotive Gas Oil, also known as diesel, and 0.033 million litres of Dual Purpose Kerosene.
Total sales of white products for the period October 2019 to October 2020 stood at 16,462.50 billion litres and PMS accounted for 16,344.36 billion litres or 99.28 per cent.
White products include petrol, kerosene and diesel. The N158.04bn sales represent 92 per cent increase over the ₦80.15bn sales in September 2020.