The Nigerian National Petroleum Corporation Limited (NNPCL) on Sunday admitted that it is owing suppliers of the product.
The Chief Corporate Communications Officer of the NNPCL, Olufemi Soneye, admitted this while responding to reports that the NNPCL is owing suppliers ro the tune of $6billion.
Soneye admitted that the national oil company is owing suppliers, but did not specify the exact amount.
The prolong scarcity of petrol nationwide for months now has largely been attributed to the NNPCL inability to offset the debt.
“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.”
(vitalnewsngr.com)
