116.46m litres fuel Stolen in One year, say NNPC reports + BREAKDOWN
N19 billion worth of Premium Motor Spirit (PMS) generally known as petrol imported Into Nigeria did not get to the final consumers in the countrt, its intended destination.
The product, which translated to a total of 116.46 million litres (worth N18.88 billion) was stolen in 2021, data from different reports obtained from the Nigerian National Petroleum Company Limited showed.
Figures contained in various NNPC reports on Product Pipeline Performance for PMS showed that from January 2021 till December last year, huge volumes of petrol imported into Nigeria by the national oil company did not get to their targeted destinations.
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The products were lost through four pipeline segments including Atlas Cove-Mosimi and Atlas Cove-Idimu-Satellite, Mosimi-Ibadan, Ibadan-Ilorin and Port Harcourt-Aba.
The breakdown showed that for the month of January 2021, a total of 6.371 million litres of petrol was lost through three pipeline segment, excluding that of Port Harcourt-Aba, as there was no pumping operation on the line in January.
The ex-depot price of petrol, according to the sole importer of the commodity, NNPC, was N143.17/litre. This implies that the worth of petrol stolen in January 2021 was N943.92m.
In the months of February, March and April 2021, the oil firm lost 5.317 million litres, 5.722 million litres and 7.366 million litres of petrol, valued at N787.88m, N855.28m and N1.09bn respectively.
In May, June and July 2021, NNPC lost 14.157 million litres, 10.585 million litres and 9.329 million litres of petrol respectively.
