-Godwin Orozo (Abuja)
The Nigerian National Petroleum Corporation (NNPC) Ltd. has confirmed reports of substantial debts owed to petrol suppliers, acknowledging that this financial burden is putting significant pressure on the company and could threaten the sustainability of fuel supply across the country.
In a press release issued on September 1, 2024, the company’s Chief Corporate Communications Officer, Olufemi Soneye, addressed the situation, emphasizing that NNPC Ltd. remains committed to its role as the supplier of last resort, as mandated by the Petroleum Industry Act (PIA).
“NNPC Ltd. is fully aware of the reports concerning our debt to petrol suppliers, which has indeed placed considerable strain on our operations,” Soneye stated.
“However, we are unwavering in our commitment to national energy security and will continue to work closely with relevant government agencies and stakeholders to ensure a consistent supply of petroleum products across the nation.”
NNPC Ltd. assured the public that efforts are underway to resolve the financial challenges and maintain the steady distribution of fuel despite the current difficulties.
