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The Nigerian National Petroleum Company Limited (NNPCL) admitted at the weekend its “significant debt to petrol suppliers,” saying it poses a threat to the sustainability of fuel supply.
In a statement on Sunday, NNPCL spokesman Olufemi Soneye said “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.”
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