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N2.015trn Worth Of Petrol Consumed In 13 Months, NNPC Claims

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The Nigerian National Petroleum Corporation (NNPC) has reported that it sold N2.015trillion worth of petrol from November, 2019 to November, 2020.
The corporation in a statement, yesterday, said in the month of November, 2020, it recorded a trading surplus of N13.43billion up by 54 per cent when compared to the N8.71billion surplus recorded in October, 2020.
The NNPC said 1.725 billion litres of white products were sold and distributed by the Petroleum Products Marketing Company (PPMC), a subsidiary of the NNPC, in the month of November, 2020, compared with over 1.224 billion litres in the month of October, 2020.
This comprised 1.723 billion litres of Premium Motor Spirit (PMS), 2.13 million litres of Automotive Gas Oil (AGO) also known as diesel, and 0.33 million litres of Dual Purpose Kerosene.
The corporation added that total sale of white products for the period November, 2019, to November, 2020, stood at 17.031 billion litres and PMS accounted for 16.911 billion litres or 99.29 per cent.
“In monetary terms, a sum of N226.08billion was made on the sale of white products by PPMC in the month of November, 2020, compared to N158.04billion sales in October, 2020.
“Total revenues generated from the sales of white products for the period November, 2019 to November, 2020 stood at N2.034trillion, where PMS contributed about 99.09 per cent of the total sales with a value of over N2.015trillion.”
The NNPC’s spokesman, Dr Kennie Obateru, explained in the statement that the “trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue in the period under review”.
In November, 2020, NNPC Group’s operating revenue as compared to October, 2020, decreased slightly by 0.02 percent or N0.09billion to stand at N423.08billion.
Similarly, expenditure for the month decreased by 1.16 percent or N4.81billion to stand at N409.65billion, leading to the N13.43billion trading surplus.
Obateru explained further that overall, expenditure as a proportion of revenue was 0.97 in November, 2020 as against 0.98 in October, 2020.
He attributed the 54 per cent increase in trading surplus in the November to “the substantial decrease in expenditure from the Nigeria Gas Company (NGC) due to cost reduction in overheads, coupled with 38 percent reduction in NNPC Corporate Headquarters deficit”.
In addition, the NNPC Group’s surplus was bolstered by the noticeable improved profits for additional engineering services rendered by the Nigerian Engineering and Technical Company (NETCO) and increased revenue from import activities posted by Duke Oil Incorporated.
These healthy performances dominated the positions of all other NNPC subsidiaries to record the Group surplus, he added. He the figures are contained in the November, 2020, edition of the NNPC Monthly Financial and Operations Report (MFOR).
The report also indicated that export sales of crude oil and gas for the month stood at $108.84million, making a 70.33 per cent increase compared to the last month.
Crude oil export sales contributed $73.09million (67.15%) of the dollar transactions compared with $12.38million contribution in the previous month; while the export gas sales amounted to $35.75million in the month.
The total crude oil and gas export for the period of November, 2019 to November, 2020 stood at $2.89billion.
In the Gas Sector, a total of 222.34 Billion Cubic Feet (BCF) of natural gas was produced in the month under review, translating to an average daily production of 7,411.52 Million Standard Cubic Feet per Day (mmscfd).
For the period November, 2019 to November, 2020, a total of 3,004.06BCF of gas was produced, representing an average daily production of 7,642.69mmscfd during the period.
The report also stated that out of this volume, production from Joint Ventures (JVs) accounted for 67.29 percent, Production Sharing Contracts (PSCs) accounted for 19.97 percent, while the Nigerian Petroleum Development Company (NPDC) accounted for 12.74 percent.
A further breakdown showed that a total of 137.41 BCF of gas was commercialized, consisting of 39.99BCF and 97.42BCF for the domestic and export market respectively.
This translates to a total supply of 1,332.82 mmscfd of gas to the domestic market and 3,247.44 mmscfd of gas supplied to the export market for the month.
This implies that 62.55 per cent of the average daily gas produced was commercialized while the balance of 37.45 per cent was re-injected, used as upstream fuel gas or flared.
Gas flare rate was 7.89 per cent for the month under review translating to 577.39 mmscfd.
A total of 789mmscfd was delivered to gas-fired power plants in the month of November, 2020, to generate an average power of about 3,358MW compared with October, 2020 when an average of 750mmscfd was supplied.

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NPA Assures On Staff Welfare 

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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1 week ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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