The Nigerian National Petroleum Corporation (NNPC)’s subsidiary, the Petroleum Products Marketing Company (PPMC), recorded a total of ₦158.04 billion from the sale of white products in October 2020.
This is contained in the October edition of the Corporation’s Monthly Financial and Operations Report.
The sales represent a 92 per cent increase over the ₦80.15bn sales in September 2020.
According to the report, the total revenues generated from the sale of white products for the period October 2019 to October 2020 stood at ₦1.95tn, with Premium Motor Spirit or petrol accounting for about 99.07 per cent of the total sales with a value of over ₦1.9tn.
In terms of volume, the October 2020 sales figure translates to a total of 1,224.54 billion litres of white products sold and distributed by PPMC within the period compared with 603.39 million litres in the month of September 2020.
This comprised 1,224.20 billion litres of PMS, 0.31 million litres of Automotive Gas Oil, also known as diesel, and 0.033 million litres of Dual Purpose Kerosene.
Total sales of white products for the period October 2019 to October 2020 stood at 16,462.50 billion litres and PMS accounted for 16,344.36 billion litres or 99.28 per cent.
