Business
NNPCL Admits Its Debts Pose Threat To Supply Of Petrol
has placed considerable pressure on the Company
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has confirmed reports of its indebtedness to suppliers.
The also admits this development” poses a threat to the sustainability of fuel supply.”
The development which was made known on Sunday, September 1, 2024, in a statement signed by Chief Corporate Communications Officer, Olufemi Soneye.
The statement with header :NNPC Ltd Faces Financial Strain Due to PMS Supply Costs, Impacting Supply Sustainability” reads….
NNPC Ltd. has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.
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.
Olufemi Soneye – Chief Corporate Communications Officer
NNPC Ltd, Abuja -1st September, 2024
