Lagos - Nigeria lost about N1.44 billion as a result of the shutdown of the Nigeria Petroleum Company (NIPCO) depot by the National Union of Petroleum and Natural Gas Workers (NUPENG), reports New Telegraph.
The shutdown of the facility, which lasted for 10 days prevented Nigerian National Petroleum Corporation (NNPC) and other major oil marketers from loading at the depot.
NNPC loads an average of 50 trucks daily from the NIPCO facility. Hence, for the 10 days that the shutdown lasted, the corporation could not load about 500 trucks.
With each truck loading an average of 33 000 litres at the official ex-depot price at N87.50kobo, NNPC lost a whopping N1.44 billion.
Read more at New Telegraph.
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