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NNPC INCREASES IMPORT DESPITE RISING CRUDE PRICE

by Harry Choms
November 19, 2018
in News
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NNPC INCREASES IMPORT DESPITE RISING CRUDE PRICE
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Nigeria imported over 15.21 million liters of petrol Within the first three quarters of this year.

This is an increase from the 11.33 million liters imported in the same period last year.

Landing cost of the product remains higher than the official pump price of N145 per liter.

The increase in petrol import amid rising crude oil prices in the period under review means that the NNPC spent more on subsidy.

Crude oil price, which accounts for about 80 percent of the final cost of petrol, rose to a four-year high of $86.74 per barrel early last month.

Tags: NNPC
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