NNPC Ltd admits financial strain due to fuel supply costs
NNPC Ltd has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
A statement by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd said “this financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.”
The statement said in line with the Petroleum Industry Act (PIA), NNPC Ltd “remains dedicated to its role as the supplier of last resort, ensuring national energy security.
“We are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.”
