Dipo Olowookere
**Increases Products Distribution, Sale by 29%
By Dipo Olowookere
About 1.3 billion litres of petroleum products were distributed and sold by the Nigerian National Petroleum Corporation (NNPC) throughout the country in the month of September 2017.
This figure was captured in the September 2017 edition of the monthly NNPC Financial and Operations Report which was released on Monday in Abuja.
The figure shows a 29 percent increase from the 950.67 million litres posted in the month of August 2017.
According to the report, products which were distributed and sold by the Petroleum Products Marketing Company (PPMC), the downstream subsidiary of the NNPC, comprised of about 1.2 billion litres of petrol, 35.58 million litres of kerosene and 86.30 million litres of diesel. While total special products for the month of September 2017 was 9.29 million litres comprising of 7.43 million litres of Low Pour Fuel Oil (LPFO) and other special products of 1.86 million litres.
The sale of white products (petrol, kerosene and diesel) for the period September 2016 to September 2017 stood at 15.61 billion litres. A further breakdown showed that petrol amounted to 13.65 billion litres and accounts for 87.45 per cent.
In terms of average daily sales and distribution of petroleum products, the numbers indicated that 42,752, 626 million litres of petroleum were recorded during the period comprising a daily petrol distribution figure of 38,690,970 million litres, 2,876,745 million litres of diesel, 1,185,906 million litres of kerosene and 2,677,995 million litres of special products.
In terms of revenue generation, PPMC posted a total sales figure of N151.42 billion for white products in the month of September 2017 compared to N111.36 billion sold in the prior month of August 2017.
Total revenues generated from the sales of white products for the period September 2016 to September 2017 stood at N1,877.42 billion, where petrol contributed about 85.08 percent of the total sales with a value of N1,596.98 billion.
The 26th edition of the NNPC Financial and Operations Report also highlighted that the corporation had sustained effective communication with stakeholders through this report via publications on its website and in national dailies.
This is in line with the corporation’s commitment to becoming more accountable, responsive, and transparent and a FACTI based Organization.
The September 2017 NNPC Financial and Operations Report is the 26th edition of the series.
