PPPRA records 18bn PMS importation in one year
The Petroleum Products Pricing Regulatory Agency (PPPRA) report shows that, over 18billion litres of Premium Motor Spirit (PMS), also called petrol, was imported in 2019.
The report indicates that, the total quantity of PMS supplied across the nation as at November was 18, 623,992,092 litres and the PMS average sufficiency stood at 40.68 days.
The Executive Secretary of the Agency, Abdulkadir Saidu, in the report emphasised the need for enhanced private sector participation in the refining business and the urgent retooling of the nation’s existing refineries to ensure improved production.
Saidu said, 1,612 vessels laden with different petroleum products were docked in Nigerian waters in 2019.
Meanwhile, the 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 while Major Oil Marketers of Nigeria (MOMAN) imported 0.39 per cent in 2019.
On the other hand, 166,332,185 litres of PMS was produced locally in the same year and 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.
The PPPRA boss, revealed that fiscalisation of imported products were efficiently carried out at seaports by industry recognised cargo inspectors in conjunction with the PPPRA field staff at seaports.
He, however, commended the dogged efforts of some marketers for sustaining the continuous development of the sector despite the inherent global economic challenge, adding that this is evident in the number of new facilities that emerged in the downstream subsector of the petroleum industry in 2019.
