The NNPC Ltd has confirmed that it is indeed in significant debt to petrol suppliers.
This was contained in a statement signed by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd on Sunday.
The statement said, “NNPC Ltd has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
It said further, “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,”the short statement concludes.
