What NNPC Says About 68 Million Petrol Litre Daily Consumption

By Tolulope Oke

The Nigerian National Petroleum Company Limited (NNPC) stated that there were 68 million gallons of Premium Motor Spirit (petrol) available every day throughout the nation.

The company also promised to submit a forensic audit of PMS supply and subsidy management.

Col. Hameed Ali, the Comptroller-General of the Nigeria Customs Service, had claimed on Friday that NNPC was unable to demonstrate that the amount of gasoline consumed in Nigeria each day justifies the payment of the over N6.34 trillion in yearly subsidies for the good.

Ali had contended that the NNPC’s assertion of a daily use of 98 million liters of PMS could not be supported scientifically and that the country’s oil firm was actually delivering more than 38 million liters of PMS daily.

However, according to a statement released on Sunday in Abuja by the Group General Manager of the Group Public Affairs Division of the NNPC, Garba-Deen Muhammad, “the total volume of PMS imported into the country was 16.46 billion liters, which translates to an average supply of 68 million liters per day” between January and August 2022.

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The corporation used data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority that showed the average daily evacuation (depot truck out) from January to August 2022 was 67 million liters per day.

It stated that daily oscillations ranging from as little as four million liters per day to as much as 100 million liters per day are recorded in the NMDPRA’s daily evacuation (depot loadouts) statistics.

According to NNPC, oil marketing companies have stopped importing PMS since the fourth quarter of 2017 as a result of increased crude oil prices and PMS supply costs that are higher than the NMDPRA quota.

“In the light of these challenges, NNPC has remained the supplier of last resort and continues to transparently report the monthly PMS cost under-recoveries to the relevant authorities,” the company stated.