Hopes of Nigerians to see an immediate end to the current scarcity of petrol in the country may have been dashed as the Nigerian National Petroleum Company Limited says the financial strain on the company is posing a threat to the sustainability of fuel supply.
In a statement on Sunday by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd acknowledged reports regarding its debt to petrol suppliers. It said, “This financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.”
But it said it remains dedicated to its role as the supplier of last resort.
Read full statement:
“NNPC Ltd 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.
“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.”
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