NNPC faults alleged NPA’s N5Billion debt

  The Nigerian National Petroleum Corporation (NNPC) has blamed its agent, Daddo Maritime for the alleged N5 Billion debt the Corporation is owing  the  Nigerian Ports Authority (NPA).

  In a chat with City BusinessNews (www.citybusinessnews.com) on Tuesday, a higly placed source described the alleged N5Billion debt as “not entirely correct”.

  The source blamed the alleged debt on Daddo Maritime, “However, we also owe NPA about N3Billion which are currently at various stages of payment”.

  According to the source, the Managing Director of NPA has directed that “our new agents be allowed to service our vessels and our Marine Logistics team is following this development closely”.

  Contacted last night, a source at NPA promised to make the ‘correct information’ available to City BusinessNews before the end of the week.

    Sources at NPA recently disclosed that NNPC’s N5 Billion debt would have been higher “but was reduced by a rebate of about 30% the authority granted to the national oil company”.

 The NPA is also insisting on collecting its dollar payments in dollars as against being paid in naira at any exchange rate which is not certain owing to fluctuations in the foreign exchange markets

 NPA under its new management team has commenced serious debt recovery drive aimed at addressing chains of indebtedness spanning between one and ten years.

 Managing Director of NPA, Hadiza Bala Usman had told some terminal operators in Calabar recently that NPA will ensure maximum collection of all fees due to the government while urging them to stick to the terms of agreements entered with government.