10 November 2017

Nigeria: We Received U.S.$205 Million From Duke Oil Only - PPMC

The Petroleum Products Marketing Company (PPMC) received a total of $205,203,891.09 from Duke Oil for products traded between January 2016 and September 2017.

PPMC Managing Director, Mr. Umar Ajiya, told the House Representatives ad hoc committee investigating alleged revenue leakages in the oil and gas sector for the period under review. He said, specifically, the products traded within the period were fuel oil (low pour fuel oil) and naphtha.

Duke Oil, before now, was not operating as it should - as an international trading company. The chairman of the committee, Rep. Jarigbe Agom Jarigbe, requested for more documents to support the presentation to the committee.

A statement from PPMC Public Affairs, Mohammed S. Umar, said some newspapers had earlier quoted the MD out of context on the remitted figure and the statement that Duke Oil did not cooperate with PPMC in making their remittances while reporting the presentation to the committee.

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