N12.75bn worth of petroleum products have been lost in eight months says NNPC
Written by admin on November 29, 2020
The Nigerian National Petroleum Corporation has put the value of petroleum products lost from January to August this year at N12.75bn.
Data obtained from the NNPC showed that N1.71bn worth of petroleum products was lost in January; N1.83bn in February; N1.59bn in March, and N1.64bn in April and the rest spread over the remaining months.
The NNPC said in its latest monthly report that a total of 806 vandalised points have been recorded between August 2019 and August 2020.
It also added that a total of 37 pipeline points were vandalised in August, representing about three per cent increase from the 36 points recorded in July.
The NNPC also added that to ensure continuous increased fuel supply and effective distribution across the country, a total of 0.95 billion litres of Premium Motor Spirit (petrol), translating to 30.53 million litres/day were supplied in August.
The national oil firm said it had continued to diligently monitor the daily stock of PMS to achieve smooth distribution of petroleum products and zero fuel queue across the nation.