NNPC earns ₦1.95tr from sale of white products in one year
The Nigerian National Petroleum Corporation, NNPC, has disclosed that its downstream subsidiary, the Pipelines and Products Marketing Company, PPMC, earned N1.95 trillion from the sale of white products in one year, October 2019 to October 2020.
The figure is contained in the October 2020 edition of the NNPC Monthly Financial and Operations Reports, MFOR, released recently. White products are petrol, kerosene and benzene, among others. A press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, said Premium Motor Spirit, PMS, also known as petrol, accounted for about 99.07% of the total sales with a value of over ₦1.9 trillion.
Total sales of white products for the period under review stood at 16.462.50 billion litres and PMS accounted for 16.344.36 billion litres, the report said. The NNPC also announced that the PPMC recorded a total of ₦158.04 billion from the sales of the white products in the month of October 2020, representing 92 percent over the ₦80.15 billion sales in September 2020.
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