The Nigerian National Petroleum Company Limited finally admitted the company’s significant debt to petrol suppliers, saying it poses a threat to the sustainability of fuel supply.
According to a press release on Sunday, 1st September 2024 signed by the Chief Corporate Communications Officer, NNPC Ltd., Abuja, Olufemi Soneye, said that 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, the statement concluded.
