About 18 billion litres of petrol, PMS, was supplied in Nigeria for 2019, a report by the Petroleum Products Pricing Regulatory Agency, PPPRA, has said.
Abdulkadir Saidu, the executive secretary of the agency, in the report on Wednesday, January 8, 2020, emphasised the need for enhanced private participation in the refining business, as well as the revamping of the nation’s refineries for improved production.
“The total quantity of PMS supplied across the nation as at November 2019 was 18,623,992,092 litres and the PMS average sufficiency stood at 40.68 days,” the report said.
The report revealed that 1,612 vessels, laden with different petroleum products, docked in Nigerian waters in 2019.
A breakdown of marketers’ performance shows that the Nigerian National Petroleum Corporation, NNPC, was responsible for 99.61 per cent of the total 19,175,737,226 litres of petrol that was imported.
Major Oil Marketers of Nigeria, MOMAN, on the other hand, imported 0.39 per cent in 2019., while 166,332,185 litres of PMS was produced locally, in the same year.
“Other petroleum products imported into the Country are 4,586,878,439 litres of AGO, 128,110,313 litres of HHK, 951,769 084 litres of ATK, 306,791,987 litres of Base Oil, 125,561,557 litres of Bitumen and 45,980,957 litres of LFPO,” it said.
Saidu disclosed in the report that fiscalisation of imported products was efficiently carried out at sea ports by industry recognised cargo inspectors in conjunction with the PPPRA field staff at sea ports.
The PPPRA boss commended the dogged efforts of some marketers at sustaining the continuous development of the sector, despite the inherent global economic challenges.
This is evident in the number of new facilities that emerged in the downstream subsector of the petroleum industry in 2019.
Promise
Saidu said the agency will continue to ensure transparency in the oil and gas value chain by making reliable data available to strategic government agencies.
The move is also for adequate planning and decision making in the country.
“The agency will also continue to collaborate with the NNPC and other Oil Marketing Companies towards improving the regulatory environment, as well as ensuring uninterrupted product availability,” he said.
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