“NNPC Ltd faces financial strain,poses threat to sustainability of fuel supply

“NNPC Ltd faces financial strain and poses a threat to the sustainability of fuel supply

By prince Benson Davies

Nigeria National Petroleum Corporation (NNPC Ltd) has owned up to 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 threatens the sustainability of fuel supply.

A press statement by the Chief Corporate Communications Officer of the company, Olufemi Soneye, however, assured that: “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.”