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The Nigerian National Petroleum Corporation has stopped the importation of Dual Purpose Kerosene into the country for three months running, its latest financial and operations report has revealed.
The August 2016 edition of the Corporation's financial and operation report stated that the last time the corporation imported kerosene into Nigeria under the Direct-Sale Direct-Purchase/Offshore Processing Agreement was in May.
The documents sighted PUNCH at the Abuja headquarters of the NNPC showed that by implementing the DSDP (replacement of the crude swap arrangement with what he called the Direct-Sale Direct-Purchase framework, which took off in April), Nigeria was able to save $336.4m (N102.6bn at the official exchange rate of N305 to $1) between April and July 2017.
The report, however, did not state if the NNPC was importing kerosene through other channels and officials of the firm could not confirm this on Wednesday.
The Group General Manager, Group Public Affairs Division, NNPC, Mr. Garba-Deen Mohammed, said he would find out if the firm had stopped kerosene importation, particularly through the DSDP channel.
The August 2016 edition of the Corporation's financial and operation report stated that the last time the corporation imported kerosene into Nigeria under the Direct-Sale Direct-Purchase/Offshore Processing Agreement was in May.
The documents sighted PUNCH at the Abuja headquarters of the NNPC showed that by implementing the DSDP (replacement of the crude swap arrangement with what he called the Direct-Sale Direct-Purchase framework, which took off in April), Nigeria was able to save $336.4m (N102.6bn at the official exchange rate of N305 to $1) between April and July 2017.
The report, however, did not state if the NNPC was importing kerosene through other channels and officials of the firm could not confirm this on Wednesday.
The Group General Manager, Group Public Affairs Division, NNPC, Mr. Garba-Deen Mohammed, said he would find out if the firm had stopped kerosene importation, particularly through the DSDP channel.
