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NNPC partners World Bank on daily petrol consumption audit

The Nigerian National Petroleum Corporation (NNPC), says it is working with the World Bank and ministry of finance to carry out an audit to ascertain the actual daily petrol consumption in Nigeria.

Henry Obih, NNPC’s chief operating officer (COO), downstream, made the disclosure during a panel section at the 2018 Nigerian Oil and Gas conference in Abuja on Wednesday.

According to the COO, the national executive council (NEC) had directed the state oil firm to determine the actual daily consumption of petrol in the country.

“We are presently in a joint project with the Federal Ministry of Finance. We are doing a study around consumption to determine the actual consumption by Nigerians,” he said.

“We have to determine what we call the daily loadout or the evacuation, as against the actual consumption, what people go to the pump every day to buy for their cars, for their generators at home and for other uses of PMS (petrol).

“This is why the National Economic Council has mandated that we work with the federal ministry of finance.

“We also held a meeting with the World Bank about six weeks ago, and we are trying to progress in a global study that would help us get around the actual numbers of what we consume in Nigeria.”

Quoting data from the Petroleum Product Pricing Regulatory Agency (PPPRA) and the Department of Petroleum Resources (DPR), Obih said the NNPC trucked out 48 million litres of petrol and 50 million litres of petrol in 2016 and 2017 respectively.

He said the proliferation of cross-border smuggling would make it difficult in determining the accurate petrol consumption data, as the commodity is sold the cheapest in Nigeria compared to other West African countries.

Oluwatoyin Bayagbon :