The Nigerian National Petroleum Corporation (NNPC) has generated N1trn as revenue from the sales of white petroleum products between September 2015 and August 2016. The NNPC revealed in its latest financial and operations report that the sales were made through its downstream arm, the Pipelines and Products Marketing Company (PPMC).
The sale of Premium Motor Spirit (PMS), also known as petrol, contributed about 90 percent of the revenues with a value of N909.11bn. It was followed by kerosene with N51.86bn and, diesel, N51.61bn.
The NNPC made the highest sales within the year under review in August 2016 with N129.84bn, four months after the federal government had increased the price of petrol to N145 per lite.
- November 08, 2016
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