Petrol Sales Drop to N107.61 Billion in the Month of April

The Nigerian National Petroleum Corporation (NNPC) has said its petrol revenue dipped by 47.38 per cent in the month of April.

The latest data from the corporation revealed that sales of Premium Motor Spirit suffered 47.38 per cent decline in sales from N192.37 billion in March to N107.61 billion in April.

NNPC said it sold 990.17 million litres of white products in April, compared to 1,647.89 million litres it sold and distributed by Petroleum Products Marketing Company (PPMC) in March.

It said, “This comprised 941.11 million litres of Premium Motor Spirit, 47.16 million litres of Automotive Gas Oil and 1.78 million litres of Dual Purpose Kerosene.

There was no sale of special product in the month.

“Total sale of white products for the period April 2019 to April 2020 stood at 21,027.43 million litres and PMS accounted for 20,834.36 million litres or 99.08 per cent.”

According to the NNPC, 1.81 billion litres of PMS were imported into the country via the Direct Sale Direct Purchase arrangement in April, this it said was below the 2.25 billion litres of PMS imported in the month of March before the lockdown.

It, however, noted that no white product (PMS and DPK) was produced in April from the nation’s refineries “and apparently for the past 10 consecutive months.”

“The lack of production is due to ongoing rehabilitation works at the refineries,” the corporation added.