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 March 2021, representing a 24.7% increase from the ₦188.15 billion 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 1.782billion litres of white products sold and distributed by PPMC in March 2021, compared to 1.4billion litres in February 2021.
This volume is made up of 1.782billion litres of Premium Motor Spirit (PMS) and 0.45million litres of Automotive Gas Oil (AGO).
Total sale of white products for the period of March 2020 to March 2021 stood at 1.782billion litres and the Total PMS component accounted for 1.75billion.
The NNPC stated that it continues to diligently monitor the daily stock of PMS to achieve uninterrupted supply, effective distribution and zero fuel queue across Nigeria.
The March 2021 MFOR is the 68th edition of the report, it is published monthly to keep the Nigerian public up to date with the operations of the Corporation in line with the management’s guiding philosophy of Transparency, Accountability and Performance Excellence, (TAPE).