By Ali Elias
NNPC Ltd has responded to recent reports highlighting the company’s substantial debt to petrol suppliers, a situation that has raised concerns about the sustainability of the nation’s fuel supply. As financial pressures mount, NNPC Ltd reassures the public of its ongoing commitment to fulfilling its mandate under the Petroleum Industry Act (PIA) as the supplier of last resort, ensuring the stability of Nigeria’s energy supply.
The Statement, signed by Olufemi Soneye, the company’s Chief Corporate Communications Officer, reads: “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 the meantime,NNPC Ltd is working closely with government agencies and key stakeholders to navigate these financial challenges and maintain an uninterrupted supply of petroleum products across the country. The company remains steadfast in its mission to uphold national energy security amidst these fiscal difficulties.
“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 statement concludes.