By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: NNPC Ltd says Nigeria’s daily fuel supply is 68m litres
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

NNPC Ltd says Nigeria’s daily fuel supply is 68m litres

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: September 5, 2022
Share
3 Min Read
NNPC Limited logo
NNPC Limited logo
SHARE

The Nigerian National Petroleum Company (NNPC) Limited has offered to submit itself to a forensic audit of fuel supply and subsidy management, insisting daily fuel supply is 68 million.

In a statement signed by Mallam Garba Deen Muhammad, Group General Manager (Group Public Affairs Division), NNPC said between January and August 2022, “the total volume of Premium Motor Spirit (PMS) imported into the country was 16.46 billion litres, which translates to an average supply of 68 million litres per day.

“Similarly, import in the year 2021 was 22.35 billion litres, which translated to an average supply of 61 million litres per day.”

It said the average daily evacuation (depot truck out) from January to August 2022 “stands at 67 million litres per day, as reported by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA),” while “daily evacuation (depot load outs) records of NMDPRA do carry daily oscillation ranging from as low as four million litres to as high as 100 million litres per day.”

- Advertisement -

The company said rising crude oil prices and PMS supply costs above PPPRA (now NMDPRA) cap had caused oil marketing companies’ withdrawal from PMS import since the fourth quarter of 2017.

It noted: “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.”

On cost, NNPC said the average international market determined landing cost in Q2 2022 was “$1,283/MT and the approved marketing and distribution cost, N46/litre.”

Also, it said the combination of these cost elements “translates to retail pump price of N462/litre, an average subsidy of N297/litre and a yearly estimate of N6.5 trillion on the assumption of 60 million litres daily PMS supply.”

- Advertisement -

The NNPC promised to ensure “compliance with existing governance framework that requires participation of relevant government agencies in all PMS discharge operations, including Nigerian Ports Authority, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigerian Navy, Nigeria Customs Service, NIMASA and all others.”

It acknowledged the possibilities of criminal activities in the PMS supply and distribution value chain, pledging: “As a responsible business entity, NNPC will continue to engage and work with relevant agencies of government to curtail smuggling of PMS and contain any other criminal activities.”

The company also pledged to deliver on its mandate of ensuring “energy security for our country with integrity and transparency.”

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:FuelNNPC Limited
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Abdullahi Ganduje Kano State Government releases N1 billion for girl child education
Next Article Ahmad Lawan and Bashir Sheriff Machina Yobe North: Machina denies withdrawing for Lawan

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 3 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Police Blockade of PDP Secretariat Triggers Political Turmoil and Heated Reactions
Politics
APC Welcomes Kwankwaso Back to Collaborate with President Tinubu
Politics
Olubunmi Tunji-Ojo
FG Hails Success of E-Visa System, Processes Over 14,000 Applications in Six Weeks
News
Google Releases June 2025 Core Update
Tech
NELFUND
NELFund Warns Students Against Fake Loan Portal, Urges Caution Over Fraudulent Links
Education
- Advertisement -
Ad imageAd image

You May Also Like

International

Tinubu and Saint Lucia’s Prime Minister Agree to Establish Formal Diplomatic Relations

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
Ali Bukar Dalori
Politics

Ali Bukar Dalori Assumes Role as APC Acting National Chairman After Ganduje’s Resignation

Muhammad A. Aliyu
Muhammad A. Aliyu
June 30, 2025
MI Abaga
Celebrities

MI Abaga Expresses Regret Over Past Support for APC

Damilola A.
Damilola A.
June 30, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?