Nigerians Spent N2.33tn On Petrol In 13 Months – NNPC

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The Nigerian National Petroleum Corporation, NNPC, has disclosed that a total of N2.35 trillion was generated from the sale of petroleum products between May 2020 and May 2021.

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Out of this amount, Premium Motor Spirit (petrol) contributed N2.34 trillion, about 99.61 per cent.

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Group General Manager, Group Public Affairs Division of NNPC, Garba-Deen Muhammad, said the figures were contained in the May 2021 edition of the Corporation’s Monthly Financial and Operations Report.

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Titled “NNPC records crude oil, gas sales of $219.75m in May …posts N295.72bn from sale of petroleum products,” it read:

“Total revenues generated from the sale of petroleum products for the period of May 2020 to May 2021 stood at N2.345tn where Premium Motor Spirit contributed about 99.61 per cent of the total sales with a value of N2.336tn.

“In terms of volume, the figure translates to a total of 2.241 billion litres of white products sold and distributed by PPMC in the month of May 2021 compared with 1.673billion litres in the month of April 2021.”

The statement revealed further that total sales of petroleum products for the period May 2020 to May 2021 stood at 18.65 billion.

 

Also, NNPC recorded a total crude oil and gas export sales of $219.75million in May this year, an increase in sales of 180.29 per cent when compared to the previous month of April this year.

Crude oil export sales contributed $181.19million (82.45 per cent) of the dollar transactions compared with $4.22m contribution in the previous month while the export gas sales component stood at $38.56million in May 2021.

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