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NNPC again imports 100% of petrol consumed in August

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NNPC targets 30% market share

The Petroleum Products Pricing Regulatory Agency (PPPRA) has revealed that the Nigerian National Petroleum Corporation (NNPC) imported 100 per cent of 1.74 billion Premium Motor Spirit, popularly called petrol consumed in the month of August 2021.

In a statement published on its website, the General Manager, Corporate Services, PPPRA, Kimchi Apollo noted that the August figure showed a decrease of about 132,301,071 litres when compared to the 1,867,925,811 litres supplied in the month of July.

He noted further that the 1.74 billion barrels of petrol consumption in August indicated an average daily supply of about 55.99 million litres.

“The total truck-out volume for PMS was 1.79 billion litres, therefore, the average truck-out volume of PMS was 57.58 million litres per day,” it added

The petroleum products pricing regulator also stated that the country had an average PMS Days Sufficiency of 33 days.

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“It is important to note that the decline in the volume of PMS supplied in the month of August does not in any way translate to product scarcity,” PPPRA stated.

The agency said it would continue to monitor and advise relevant stakeholders to ensure continued product availability.

Ripples Nigeria had earlier reported that NNPC in 2020, paid workers at its three refineries the sum of N69.07 billion.

The plants, which are located in Port Harcourt, Kaduna and Warri, have a combined installed capacity of 445,000 barrels per day but have been in a state of disrepair for many years.

Kaduna Refining and Petrochemical Company reported it spent on Sslaries, wages and other fringe benefits of N26.02bn in 2020 from N34.52bn in 2019.

While Port Harcourt refinery put its aggregate payroll costs (wages, salaries and allowances, redundancy and pension costs) at N22.55bn, up from N18.62bn a year earlier.

Warri refinery said its aggregate costs of employees, comprising direct labour cost and indirect labour and staff welfare cost, dropped to N20.51bn last year from N30.86bn in 2019.

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