NNPCL ADMITS DEBTS TO PETROL SUPPLIERS RESPONSIBLE FOR RESURFACED QUEUES

The Nigerian National Petroleum Company Limited has finally admitted the company’s “significant debt to petrol suppliers”, saying it poses a threat to the sustainability of fuel supply.

 There have been reports that a $6 billion debt the NNPCL owes petrol suppliers has worsened petrol scarcity in Nigeria, a perennial feature since the beginning of 2024 but the NNPCL had several times, blamed logistics challenges, and flooding, amongst others for the supply shortages of the essential commodity.

 However, in a statement issued yesterday, NNPCL spokesman OLUFEMI SONEYE said “the financial strain, has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply but assured that the company is actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.

 SONEYE maintained that NNPC Ltd remained dedicated to its role as the supplier of last resort, ensuring national energy security.