NNPC Ltd. has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers.
According to a statement by Chief Corporate Communications Officer of NNPC Ltd, Olufemi Soneye, Sunday, 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”, the statement read in part.
See full statement below:
PRESS RELEASE
NNPC Ltd Faces Financial Strain Due to PMS Supply Costs, Impacting Supply Sustainability
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.
Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd, Abuja.
1st September, 2024
