A report by the Petroleum Products Pricing Regulatory Agency, PPPRA shows that over 18 billion litres of Premium Motor Spirit (PMS) popularly known as petrol was supplied in Nigeria for the year 2019.
The total quantity of PMS supplied across the country as at November 2019 was 18,623,992,092 litres and the PMS average sufficiency stood at 40.68 days.
Executive Secretary of the Agency, Abdulkadir Saidu, in a statement says 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 percent of the total 19,175,737,226 litres of petrol imported while members of the Major Oil Marketers of Nigeria, MOMAN imported 0.39 percent in the period under review.
On the other hand, 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.
Saidu disclosed that fiscalisation of imported products was efficiently carried out at sea ports by industry recognised cargo inspectors in conjunction with the PPPRA field staff.
The PPPRA commended the dogged efforts of some marketers at sustaining the continuous development of the sector despite the inherent global economic challenges.
Saidu reiterated that the Agency will continue to ensure transparency in the oil and gas value chain by making available reliable data to strategic government agencies such as NEITI, CBN and NBS 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 products availability.
