The latest figures released by the Nigerian National Petroleum Corporation (NNPC) have shown that petrol consumption in Nigeria leaped by 340 million litres within a space of one month.
The Corporation provided data contained in its March 2021 financial and operations report, which revealed that 1.75 billion liters of Premium Motor Spirit (PMS), popularly called petrol, was consumed in March 2021.
Meanwhile, the NNPC’s earlier report showed that the consumption in February 2021 was 1.41 billion litres. This implies that within the space of February and March this year, petrol consumption across the country jumped by 340 million litres.
Concerning revenue, NNPC in its March 2021 report indicated that it generated N2.13tn from the sale of white products for the period of March 2020 to March 2021. In the same month petrol contributed about 99.24 percent of the total sales with a value of N2.11tn.
According to the NNPC, its downstream subsidiary, the Petroleum Products Marketing Company, recorded N234.63bn revenue from the sale of white products in the month of March 2021 alone while the gas sector produced a total of 222.74 billion cubic feet of natural gas. This translates to an average daily production of 7,183.33 million standard cubic feet per day.
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