The Nigerian National Petroleum Company Limited, NNPCL, has admitted that financial strain poses threat to the sustainability of fuel supply.
In a statement released this evening, Sunday September 1 on its X handle, the company, acknowledged recent reports in National Newspapers, regarding its significant debt to petrol suppliers.
The statement, e - signed by the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, averred: "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."
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