NNPC Limited 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.
According to media sources, NNPC is alleged to be indebted to PMS suppliers to the tune of $6 billion.
According to statement from NNPC, “in line with the Petroleum Industry Act (PIA), NNPC Limited 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.”
