NNPC Ltd Faces Financial Strain Due To PMS Supply Costs
OpenLife Nigeria reports that NNPC Ltd has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
The company stated this in a statement signed by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd and made available to OpenLife.
The statement stated that the 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 company said.
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