• About
  • Advertise
  • Contact
Friday, August 22, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Oil & Gas

NNPC Ready For Forensic Audit Of 68million Litres Daily Fuel Supply

Vital News by Vital News
September 5, 2022
in Oil & Gas
0
Share on FacebookShare on Twitter

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

The NNPC made this known on Sunday in a statement signed by Malam Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC.

Muhammad said between January and August 2022, the total volume of Premium Motor Spirit (PMS) imported into the country was 16.46 billion litres, which translated to an average supply of 68 million litres per day.

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

“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).

RelatedStories

NLC Urges FG To Sell Enough Crude In Naira To Reduce Fuel Prices, Hails Dangote Refinery

Dangote Debunks Rumours Of Refinery Shutdown, Says PMS Gantry Price Remains N850

Kogi Govt Moves To Attract Investors To Exploit Oil, Gas Deposits

Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector

“While daily evacuation (depot load outs) records of the NMDPRA do carry daily oscillation ranging from as low as four million litres to as high as 100 million litres per day,” he said.

He said that 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.

In the light of these challenges, he said that NNPC had remained the supplier of last resort and continued to transparently report the monthly PMS cost under-recoveries to the relevant authorities.

On cost, he said the average international market determined landing cost, in quarter two, 2022 was 1,283 dollars per Metric Tonnes and N46 per litre approved marketing and distribution cost.

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

The NNPC promised to ensure compliance with existing governance framework that requires participation of relevant government agencies in all PMS discharge operations.

“The agencies include the Nigerian Ports Authority, NMDPRA, Nigerian Navy, Nigeria Customs Service, NIMASA and all others,” Muhammad said.

He acknowledged the possibilities of criminal activities in the PMS supply and distribution value chain.

Muhammad, however, pledged that as a responsible business entity, NNPC would continue to work with relevant agencies to curtail smuggling of PMS and contain other criminal activities.

He also pledged that the company would deliver on its mandate of ensuring energy security for the country, with integrity and transparency. (NAN / vitalnewsngr.com)

Tags: auditdailyFuelsupply
Previous Post

Boko Haram Invades Borno Mosque, Gun Down Imam, Worshippers

Next Post

No Threat To 2023 General Elections — I-GP

Vital News

Vital News

RelatedStories

NLC Urges FG To Sell Enough Crude In Naira To Reduce Fuel Prices, Hails Dangote Refinery
Oil & Gas

NLC Urges FG To Sell Enough Crude In Naira To Reduce Fuel Prices, Hails Dangote Refinery

August 13, 2025
Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15
Oil & Gas

Dangote Debunks Rumours Of Refinery Shutdown, Says PMS Gantry Price Remains N850

August 8, 2025
Kogi Govt Moves To Attract Investors To Exploit Oil, Gas Deposits
Business

Kogi Govt Moves To Attract Investors To Exploit Oil, Gas Deposits

August 8, 2025
Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector
Business

Dangote Says Tinubu’s Economic Policies Working, Reviving Private Sector

July 27, 2025
Africans In Position To Develop Africa, Dangote Tells Global CEOs
Oil & Gas

Dangote Urges African Leaders To Protect Local Industries From Unfair Competition

July 23, 2025
Next Post

No Threat To 2023 General Elections — I-GP

Sen. Smart Adeyemi Proposes Bill To End Same Religion Ticket For President, Vice President

Yellow Fever Kills 14 Persons In 10 States - NCDC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

PSC Promotes Janga, Inuwa, Bode To DIGs

PSC Promotes Janga, Inuwa, Bode To DIGs

3 years ago
Kogi, China Partner To Establish Special Economic Zone In Ajaokuta

KOGI-HUNAN SPECIAL ECONOMIC ZONE AND OTHER GAME CHANGERS FOR DEVELOPMENT IN THE STATE By Ismaila Isah

6 months ago
Terrorists Kill Kaduna Traditional Ruler, His 4 Sons, Rustle 100 Cows

Terrorists Kill Kaduna Traditional Ruler, His 4 Sons, Rustle 100 Cows

2 years ago
Kogi Guber Poll : Fanwo Confident Of APC Victory

Kogi Guber Poll : Fanwo Confident Of APC Victory

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election elections FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu
No Result
View All Result

Highlights

Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba, N1.07bln Salary Arrears

First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

KB Klub Holds Largest Blood Donation Drive, Raises 500pints Of Blood In Lagos

Don’t Stay Away From Home, President Tinubu Tell Nigerians In Japan, Says Nigeria On The Rise Again

Abia Secures $750mln World Bank Support For Renewable Energy

Woman Mistaken For Kidnapper Killed By Irate Mob In Ilorin

Trending

Dangote Cement Re-trains 900 Truck Drivers To Boost Operational Efficiency
News

Dangote Cement Re-trains 900 Truck Drivers To Boost Operational Efficiency

by Vital News
August 22, 2025
0

The management of Dangote Cement Plc (DCP) has restated its commitment to training and constant retraining of...

Japan Designates Kisarazu City As Hometown For Nigerians

Japan Designates Kisarazu City As Hometown For Nigerians

August 22, 2025
FAAC Disburses N1.678trn February Revenue To FG, States, LGs

FAAC Shares N2.001 July 2025 Revenue To FG, States, LGs

August 22, 2025
Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba,  N1.07bln Salary Arrears

Appeal Court Orders Kogi To Pay Ex-Deputy Governor, Simon Achuba, N1.07bln Salary Arrears

August 22, 2025
First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

First Lady’s Delegation Pays Condolence Visit to Governor Ododo Over Father’s Passing

August 22, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Dangote Cement Re-trains 900 Truck Drivers To Boost Operational Efficiency August 22, 2025
  • Japan Designates Kisarazu City As Hometown For Nigerians August 22, 2025
  • FAAC Shares N2.001 July 2025 Revenue To FG, States, LGs August 22, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In