The total expenses made on transportation and freight costs of oil products by four major oil marketing companies in the country in the first nine months of the year amounted to N2 . 64 bn .
This is in contrast to the N3 . 57 bn the oil firms spent for the same purpose in 2019 .
The oil marketing companies , Total Nigeria Plc , MRS Oil Nigeria, Ardova Plc and Conoil , saw their combined transport expenses for the period ended September 30 decline by N932 . 73 m .
This is a 26 . 06 per cent reduction in transport costs in the first three quarters of the year, compared with the same period of 2019 .
The financial statements of the companies listed on the Nigerian Stock Exchange showed that they collectively spent a lesser amount on freight and transportation costs in the first nine months of the year .
