Monday, May 17th 2021 6:40 PM

Market Digest Nigeria


Petrol consumption reduces by 814m litters


Petrol consumption reduces by 814 million litres within one month.

The Nigerian National Petroleum Corporation has disclosed that the consumption of Premium Motor Spirit (PMS Petrol), across Nigeria reduced by about 814 million litres within one month.
According to the statement about petrol, the corporation supplied 1.44 billion litres in January compared to N2.25 billion litres of petrol in the month of December 2020.

This is contained in the January edition of the NNPC Monthly Financial and Operations Report (MFOR) statement signed by NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru.

“In the month under review, a litre was least sold for N162.50, and a total of 1.44billion litres of Premium Motor Spirit (petrol), translating to 46.30million litres/day, across the country,” NNPC said.

Furthermore, the report showed in the gas sector, a total of 223.55billion Cubic Feet (BCF) of natural gas was produced in January 2021, translating to an average daily production of 7,220.22 million Standard Cubic Feet per day (mmscfd).

NNPC said also, the daily average natural gas supply to gas power plants increased by 2.38 per cent to 836mmscfd, equivalent to power generation of 3,415Mw.

“For the period of January 2020 to January 2021, a total of 2,973.01BCF of gas was produced representing an average daily production of 7,585.78 mmscfd during the period.”

Another highlight from the report also shows the corporation recorded a 37.21 percent decrease in cases of pipeline vandalism across the country in the month of January 2021.

It noted that a total of 27 pipeline points were vandalized in January 2021, down from the 43 points recorded in December 2020.

The Mosimi Area accounted for 74 per cent of the vandalized points while Kaduna Area and Port Harcourt accounted for the remaining 22 per cent and 4 per cent respectively.

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