The NNPC may spend N201 billion to clean 170.25 million gallons of stale petroleum.

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According to data from the petroleum sector, the Nigerian National Petroleum Company Limited may require N201 billion in clean Premium Motor Spirit (petrol) to bring 170.25 million litres of contaminated product imported into the country up to code.

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According to Punch, the Nigerian Midstream and Downstream Petroleum Regulatory Authority stated on Tuesday, February 8, that for every 200 litres of contaminated gasoline, 800 litres of good quality petrol would be required for blending.

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Mr Farouk Ahmed, the NMDPRA’s Chief Executive Officer, remarked during a visit to various depots in Lagos on Wednesday, February 9:

According to the NMDPRA’s re-blending parameter, the two cargoes, which contain a total of 170.25 million litres of contaminated petrol, would require 681 million litres of clean fuel for N201 billion (based on a landing cost of N295 per litre).

 

Because there are other expenditures related with the re-blending, the N201bn is a modest estimate.

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