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Business News of Thursday, 9 March 2023

Source: punchng.com

339m litres of petrol distributed in one week – NNPCL

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The Nigerian National Petroleum Company Limited has said a total of 339 million litres of petrol was distributed to 63 depots across the country in seven days.

Data that The PUNCH obtained from the NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority on Monday showed that the products were sent out between February 25 and March 3.

According to Weekly National PMS Evacuation & Dispatch report, 339 million litres of petrol were distributed across the states, with Lagos getting the lion’s share of 1.73 billion litres.

Delta State got 610 million litres; Oyo received 531 million litres and Ogun had 441 million litres to top the list of states that got petrol during this period.

With a daily average distribution of about 48 million litres, and 63 million daily average, NNPCL and NMDPRA, said 79 per cent of all evacuation took place at the top 25 top loading depots with minimum evacuation of 5 million litres.

Group Chief Executive Officer, NNPCL, Mele Kyari, had last year said Nigeria consumed 66 million litres of petrol daily.

Fuel scarcity resurfaced in some states, including Abuja this week.

The PUNCH last week reported that depots were shut for some days before and after the presidential general on February 25, leading to fuel scarcity.

The country has been battling a shortage of petrol since October, which forced it to rise to N500 per litre, before dropping back to N185 in February.

The PUNCH observed a fairly long queue at NNPC retail station along Lagos-Ibadan Expressway on Tuesday.

As of Monday, many filling stations were not selling fuel to motorists.

However, on Tuesday, most stations reopened for business.