Breaking: FG still trying to find out Nigeria’s actual PMS consumption – NNPC



The Nigerian National Petroleum Corporation, NNPC, Wednesday, disclosed that Nigeria does not know its actual fuel consumption and has recently put machinery in motion to determine the actual volume of the commodity purchased by Nigerians on a daily basis.


Speaking at the ongoing Nigerian Oil and Gas Conference and Exhibition in Abuja, Chief Operating Officer, Downstream of the NNPC, Mr. Henry Obih, stated that the mandate to determine actual consumption of Premium Motor Spirit, PMS, also known as fuel,
has been given by the National Executive Council to the NNPC, directing it to work with relevant agencies in this regard.



Actual fuel consumption had been a controversial issues over the last couple of months, as the consumption figure is what determines the amount the NNPC deducts from its revenue before making remittances to the Federation Account, with the return of fuel subsidy, now known as under-recovery.



The NNPC had put Nigeria’s fuel consumption at 65 million, blaming the sharp rise from about 35 million barrels per day, on rising cases of smuggling of the commodity as evidenced in the proliferation of petrol stations along the country’s borders.



However, governors of the 36 states had faulted the 65 million litres per day consumption figures, stating that it was a ploy by the NNPC to cut down on its remittances to the Federation.



….Details later




https://www.vanguardngr.com/2018/07/breaking-fg-still-trying-to-find-out-nigerias-actual-pms-consumption-nnpc/

When it comes to stupidity of the highest order i will suggest we give it to the fg, nnpc and buhari spokesmen
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Can someone tell me where Jonathan went wrong that Buhari has gotten right?

This is a rape of our collective common sense!
An administration that has continued to thrive on deception and falsehood has nothing meaningful to deliver than gross ineptitude!

typical of pmb.


when it comes to finances, he confuses the issue & makes it difficult for the funds to be traced creating enough doubt to absolve himself.

NNPC never knows anything because they have the highest number of looters. NNPC the only known company that makes serial losses. From records they never make profits.