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NNPC records N174.62bn petroleum products sales in March

The Nigerian National Petroleum Corporation (NNPC) recorded N174.62 billion from sale of petroleum products in March 2019.

The figure is contained in the corporation’s Monthly Financial and Operations Report (MFOR) for March 2019.

A statement by NNPC’s spokesman, Mr. Ndu Ughamadu, disclosed that the March sales figure was higher than the N168.65 billion recorded in February 2019.

The statement explained that the total revenue generated from the sale of white products from the period March 2018 to March 2019 stood at N2,780.79bn, with Premium Motor Spirit, otherwise called petrol, contributing about 91.09 per cent or N2, 533bn.

In terms of volume of the total sales by the NNPC subsidiary, the Petroleum Products Marketing Company (PPMC), in March 2019, the report said a total supply and distribution of 1.36bn litres of white products was made, compared with 1.33bn litres of February 2019.

A further products breakdown indicated that the March volume comprised 1.29bn litres of petrol, 0.023bn litres of Dual Purpose Kerosene (DPK), and 0.047bn litres for the diesel component.

Total sale of white products distributed for the period, March 2018 to March 2019, stood at 21.99bn litres, with petrol accounting for 20.63bn litres or 93.8 per cent. The report stated that 6.4bn litres of special products were sold during the period.