‘NNPC Generates N2tr From Sales Of Petrol’

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NNPC Not In Financial Crisis - Spokesman

The Nigerian National Petroleum Corporation (NNPC) has disclosed that it raked in no fewer than N2.015 trillion from the sales of Premium Motor Spirit (PMS) from November 2019 to November 2020.

The Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru made this known in a statement released in Abuja on Sunday.

Obateru said the sale of petrol contributed about 99.9 per cent of the sale of total white products of N2.034 trillion.

He revealed that: “Total revenues generated from the sales of white products for the period November 2019 to November 2020 stood at ₦2.034 trillion, where PMS contributed about 99.09 per cent of the total sales with a value of over ₦2.015 trillion.”

NNPC also announced a trading surplus of ₦13.43billion for the month of November 2020 up by 54 per cent when compared to the ₦8.71billion surplus recorded in October 2020.

The statement said this was all contained in the November 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR).

According to Obateru, the trading surplus or trading deficit is derived after the deduction of the expenditure profile from the revenue in the period under review.

The report indicated in November 2020, NNPC Group’s operating revenue as compared to October 2020, decreased slightly by 0.02 per cent or ₦0.09billion to stand at ₦423.08 billion.

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