Nigeria’s spending on petrol in the thirteen-month period between February 2019 and February 2020 came to N2.5 trillion out of the total N2.6 trillion expended by the populace on petroleum products in general.
The Nigerian National Petroleum Corporation (NNPC) in its Monthly Financial and Operations Report February 2020, released on Tuesday, observed that gasoline accounted for 98.06% of all the white products sold by the country within the period.
Kennie Obateru, Group General Manager, Group Public Affairs Division at NNPC stated that the state-owned corporation posted 39.4% sales growth in February with N211.62 billion realised, relative to the N151.79 billion reported the month before.
Trade surplus was 111.2% higher in February when N3.59 billion was posted as against the January figure of N1.87 billion.
The NNPC linked the positive drift to the improving efficiency of the Nigerian Gas Company as well as drop in the deficits recorded by refineries, downstream units and the NNPC headquarters.
The Petroleum Products Marketing Company sold and distributed 1.710 billion litres of petroleum products in the month under review up from 1.2 billion litres in January.
Out of this, petrol accounted for 1.7 billion litres of trade volume while diesel constituted 1.09 million litres. Low Pour Fuel Oil contributed 0.01 million litres to trade, the report stated.
Between February 2019 and February 2020, the value of total sales of white products came to 21 billion litres with petrol responsible for 20.8 litres or 98.73%.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
SPECIAL REPORT: Illegal miners degrade Ekiti community, engage in child labour
The activities of illegal miners in a community in Ekiti State have caused degradation of the environment, as miners engage...
SPECIAL REPORT: Inside the illegal trading of forest woods in Cross River community
“With a N20,000 bribe, an external buyer can influence the youth in host communities , Cross River State, to cut...
SPECIAL REPORT: Enugu govt watches as waste takes over state, threatens public health, environment
In this report, Arinze Chijioke looks at how delays in evacuation of waste in Enugu State encourages indiscriminate waste disposal, its health implications, and how...
INVESTIGATION: NDDC awards N1bn road contract to poultry farm
The Niger Delta Development Commission (NDDC) in what appears a breach of procurement laws, awarded a contract worth N1.028 billion...
FEATURE… Hard job, low income: Agony of Nigerian commercial drivers
Amid increase in fuel price over the years, coupled with bad roads and insecurity in Nigeria, many commercial drivers have...