The minister disclosed further that as a result of the N26 difference per litre between the current landing cost of the product (N171) and pump price of N145, NNPC which had been singularly importing the product at the volume of 25 million litres per day since October last year, has been incurring a daily loss of about N800-N900 million, cumulatively reaching N85.5billion today, in just three months.
According to him, NNPC is winning the war and putting in place adequate measures to ensure the product is easily accessible to the people in all parts of the country.
“This your proposed figure for foreign trips in the 2018 fiscal year is too high and must be drastically reduced before presenting it to the senate for approval. Even the N60.2 million proposed for local trips in terms of monitoring is also on the high side and may also be reviewed downward.”
Ladan described the activities of some of the filling station operators as sabotage against the Federal government’s efforts to ensure adequate supply of petroleum products to Nigerians.
