NNPC records ₦234.63bn revenue from petroleum product sale in March

The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in the month of March 2021 representing a 24.7% increase from the ₦188.15billion sales recorded in the previous month of February 2021.

This is contained in the March 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru. The report indicated that total revenues generated from the sales of white products for the period of March 2020 to March 2021 stood at ₦2.129trillion, where petrol contributed about 99.24% of the total sales with a value of ₦2.113trllion.

In terms of volume, the above value translates to 1.782 billion litres of white products sold and distributed by PPMC in the month of March 2021 compared to 1.4billion litres in the month of February 2021. This volume is made up of 1.75 billion litres of Premium Motor Spirit (PMS) and 0.45million litres of Automotive Gas Oil (AGO).

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Source: SweetCrudeReports

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