Nigerians consumed 1.63 billion litres of PMS in June ― NNPC

Nigerians consumed a total of 1.63billion litres of Petroleum Motor Spirit (PMS) translating to 54.50 million litres/day in June 2021, the  Nigerian National Petroleum Company (NNPC) Limited has disclosed.

This was even as it announced a trading surplus of N141.96billion recorded in the month under review.

This is contained in the June 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR).

It explained that trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.

According to the report, the Company’s operating revenue for the month as compared to May 2021, decreased by 9.07percent  or N89billion to stand at N894billion. 

Similarly, it said the expenditure for the month decreased by 29.32 per cent or N299.44billion to stand at N721.93billion. 

The report noted that the increase in trading surplus was due mainly to the increased sales of crude oil and gas by the Nigerian Petroleum Development Company (NPDC), an Upstream subsidiary of the NNPC, and the increased gas sales and depreciation postings by the Nigerian Gas Company (NGC). 

“The positive outlook was further bolstered by the performance of Duke Oil and the Nigerian Gas Marketing Company (NGMC) which also added to the improved bottom line,” it further read.

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