The Nigeria National Petroleum Corporation made N92.58bn through the sale of petrol in May 2020. This is as petrol accounted for N2.37 trillion out of the total revenue generated from the sale of white products between May 2019 and May 2020 which stood at N2.39 trillion.
It said the revenue from petrol sale was generated through its subsidiary, the Petroleum Products Marketing Company, as the oil firm also announced a 43 per cent decrease in oil pipeline vandalism in May.
Kennie Obateru, NNPC’s group general manager, group public affairs division, explained that these were contained in the May 2020 version of the corporation’s Monthly Financial and Operations Report.
The report stated that the N92.58bn was made on the sale of white products (only petrol this time) by PPMC during the review period.
The oil firm said 950.67 million litres of white products were sold and distributed by the corporation’s downstream subsidiary, PPMC.
This comprised 950.67 million litres of Premium Motor Spirit, popularly called petrol, only, with no Automotive Gas Oil or Dual Purpose Kerosene.
There was also no sale of special product in the month.
Frontpage December 2, 2019