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Nigerians consumed 40.8m litres of petrol daily in October 2020

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24 states sold petrol above fixed price in August —NBS

Nigerian National Petroleum Corporation, NNPC, through its subsidiary, the Pipeline and Product Marketing Company, PPMC, has disclosed that Nigerians consumed 1.22 billion litres of petrol in October 2020, which came to about 40.8 million litres every day

NNPC gave the figures in its Monthly Financial and Operations Report for October.

A breakdown of the figures from the report also indicates that Nigerians bought 0.31 million litres of Automotive Gas Oil, also known as diesel, and 0.033 million litres of Dual Purpose Kerosene in October 2020.

Year on year total sales of white products in 13 months from 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 petroleum products comprise Premium Motor Spirit, PMS, also known as petrol, Automotive Gasoline Oil, AGO and Dual Purpose Kerosene, DPK.

In terms of value earned, NNPC revealed that it recorded a total of N158.04bn from the sale of white products in the month of October 2020 compared to 80.15bn sales in September 2020.

Read also: Nigerians spent N2.5tn on petrol in 13 months –NNPC

The report stated that total revenues generated from the sale of white products for the period October 2019 to October 2020 stood at N1.95tn, with Premium Motor Spirit or petrol accounting for about 99.07 per cent of the total sales with a value of over N1.9tn.

In the gas sector, a total of 214.07 billion cubic feet of natural gas was produced in the month October 2020, translating to an average daily production of 6,908.34 million standard cubic feet per day.

The daily average natural gas supply to power plants increased by 8.6 per cent to 745mmscfd, equivalent to power generation of 2,801 megawatts.

For the period of October 2019 to October 2020, a total of 3,018 BCF of gas was produced, representing an average daily production of 7,658.88 mmscfd during the period.

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