• About
  • Advertise
  • Contact
Friday, October 3, 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

Dangote Refinery : PENGASSAN, NNPCL, NDMP, NUPRC Evade Service Of Court Order Halting Strike

Group Knocks Senator Ali Ndume Over Comment On PENGASSAN-Dangote Feud

You Are After Check-Off Dues, Not Workers’ Welfare, Dangote Tells PENGASSAN, TUC

PENGASSAN Members Shut Down NNPC, NUPRC, NMDPRA

“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

Dangote Refinery : PENGASSAN, NNPCL, NDMP, NUPRC Evade Service Of Court Order Halting Strike
Judiciary

Dangote Refinery : PENGASSAN, NNPCL, NDMP, NUPRC Evade Service Of Court Order Halting Strike

September 30, 2025
Group Knocks Senator Ali Ndume Over Comment On PENGASSAN-Dangote Feud
Labour

Group Knocks Senator Ali Ndume Over Comment On PENGASSAN-Dangote Feud

September 30, 2025
You Are After Check-Off Dues, Not Workers’ Welfare, Dangote Tells PENGASSAN, TUC
Labour

You Are After Check-Off Dues, Not Workers’ Welfare, Dangote Tells PENGASSAN, TUC

September 30, 2025
PENGASSAN Members Shut Down NNPC, NUPRC, NMDPRA
Labour

PENGASSAN Members Shut Down NNPC, NUPRC, NMDPRA

September 29, 2025
Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15
Labour

PENGASSAN’s Strike, A Guerilla Tactics To Hold Nigerians To Ransome – Dangote Refinery

September 29, 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

Climate Change : 600m Africans At Risk Of Severe Droughts — AfDB, GCA

3 years ago
Ex – IPAC Chief, Barr Ezeobika Calls On EFCC To Investigate, Prosecute INEC Chairman Over Election Funds

Ex – IPAC Chief, Barr Ezeobika Calls On EFCC To Investigate, Prosecute INEC Chairman Over Election Funds

2 years ago

Buhari appoints two more aides for First Lady

4 years ago

Poverty Encouraging Vote Buying – UN Women Country Rep

3 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
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • 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

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

Bandits Kidnap Police Officer In Kwara

Death Toll In Ibaji Boat Mishap Rises To 36

Arrest of 147 Terrorists In One Week, Confirms Tinubu Is Boosting Troops’ Morale – Group ‎

Fubara Sacks Commissioners, SSG, SAs, SSAs

2027 : Group Holds Awareness Walk In Kogi, Reaffirms Commitment To Vision, Leadership Of President Tinubu

Trending

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From  October 29
News

Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29

by Vital News
October 2, 2025
0

The Kogi State Government says it will commence strict enforcement of ban on Zariagi, Osara and other...

Realnews Announces Theme, Date For It’s 13th Anniversary Lecture

October 2, 2025
Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji,  For Hard Work, Dedication

Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication

October 2, 2025
FG Cancels Independence Anniversary Parade

Engineer Urges Nigeria To Invest In Aerospace Technology To Tackle Insecurity, Modernise Aviation

October 2, 2025
Police Begin Manhunt For Killers Of Three Officers, Two Vigilante In Kogi

Bandits Kidnap Police Officer In Kwara

October 2, 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

  • Kogi Vows Strict Enforcement Of Ban On Illegal Trailer Parks From October 29 October 2, 2025
  • Realnews Announces Theme, Date For It’s 13th Anniversary Lecture October 2, 2025
  • Yakubu Gowon University Honours Deputy Commissioner Of Police, Hakeem Adedeji, For Hard Work, Dedication October 2, 2025

Categories

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