The Petroleum Products Marketing Company (PPMC) recorded N234.63 billion revenue from the sale of white products in March 2021.
The Nigerian National Petroleum Corporation (NNPC) announced the downstream subsidiary’s sale represented a 24.7 percent increase from the N188.15 billion sales in February 2021.
This is contained in the March 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR).
The report indicated that total revenue generated from the sales of white products for March, last year to March, this year stood at N2.129trillion, where petrol contributed about 99.24 percent of the total sales of N2.113trllion.
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 1.75billion 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 1.782 billion litres and PMS accounted for 1.75billion litres or 99.37 percent.
The NNPC said it continues to monitor the daily stock of PMS to achieve uninterrupted supply, effective distribution and zero fuel queue across Nigeria.
In the gas sector, a total of 222.74billion cubic feet (bcf) of natural gas were produced in March 2021 translating to an average daily production of 7,183.33million standard cubic feet per day (mmscfd).
From March, last year to March, this year, a total of 2,911.62bcf of gas was produced, representing an average daily production of 7,409.60mmscfd during the period.