Afrigather The Nigerian Nationwide Petroleum Firm Restricted (NNPC Ltd) has provided to submit itself for forensic audit of gas provide and subsidy administration, insisting that each day gas provide is 68 million litres.
The NNPC made this identified on Sunday in a press release signed by Malam Garba Muhammad, Group Common Supervisor, Group Public Affairs Division, NNPC.
Muhammad mentioned between January and August 2022, the entire quantity of Premium Motor Spirit (PMS) imported into the nation was 16.46 billion litres, which translated to a median provide of 68 million litres per day.
Equally, he mentioned that import within the yr 2021 was 22.35 billion litres, which translated to a median provide of 61 million litres per day.
“The common each day 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).
“Whereas each day evacuation (depot load outs) data of the NMDPRA do carry each day oscillation starting from as little as 4 million litres to as excessive as 100 million litres per day,” he mentioned.
He mentioned that rising crude oil costs and PMS provide prices above PPPRA (now NMDPRA) cap had precipitated oil advertising corporations’ withdrawal from PMS import because the fourth quarter of 2017.
Within the gentle of those challenges, he mentioned that NNPC had remained the provider of final resort and continued to transparently report the month-to-month PMS value under-recoveries to the related authorities.
On value, he mentioned the common worldwide market decided touchdown value, in quarter two, 2022 was 1,283 {dollars} per Metric Tonnes and N46 per litre accepted advertising and distribution value.
“The mixture of those value components interprets to retail pump value of N462/litre, a median subsidy of N297/litre and an annual estimate of N6.5 trillion on the idea of 60 million litres each day PMS provide.
The NNPC promised to make sure compliance with current governance framework that requires participation of related authorities businesses in all PMS discharge operations.
“The businesses embody the Nigerian Ports Authority, NMDPRA, Nigerian Navy, Nigeria Customs Service, NIMASA and all others,” Muhammad mentioned.
He acknowledged the chances of felony actions within the PMS provide and distribution worth chain.
Muhammad, nonetheless, pledged that as a accountable enterprise entity, NNPC would proceed to work with related businesses to curtail smuggling of PMS and comprise different felony actions.
He additionally pledged that the corporate would ship on its mandate of guaranteeing power safety for the nation, with integrity and transparency.
