Home News Petrol valued at N18.88 billion stolen in 2021 – NNPC

Petrol valued at N18.88 billion stolen in 2021 – NNPC

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Premium Motor Spirit (PMS) otherwise known as petrol of about 116.46 million litres and worth N18.88 billion was stolen in Nigeria in 2021.

This was according to a source in the Nigerian National Petroleum Corporation Group (NNPC) who spoke with Nairametrics on Sunday.

According to her, huge volumes of petrol imported by the NNPC in 2021 was somehow hijacked and did not get to their target destinations.

The source said: “A total of 116.46 million litres of petrol worth N18.88billion was stolen in 2021.

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.

“For the month of January 2021, a total of 6.371 million litres of petrol was lost through three pipeline segments, excluding that of Port Harcourt-Aba, as there was no pumping operation on the line in January. The ex-depot price of petrol was N143.17/litre.

“Petrol stolen in January 2021 was N943.92 million. In the months of February, March and April 2021, we lost 5.317 million litres, 5.722 million litres and 7.366 million litres of petrol, valued at N787.88million, N855.28million and N1.09billion 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.”

According to the source, a comprehensive report on the theft of oil in the sector will be released by the NNPC.

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