The Nigerian National Petroleum Company Limited (NNPCL) says the company’s debt to petrol suppliers is responsible for the fuel queues across the country.
The NNPCL made this known via a statement issued by its spokesperson, Olufemi Soneye, on Sunday, September 1, 2024.
Soneye noted that debt poses a threat to the sustainability of fuel supply, adding, however, that the company was working with government agencies to ensure a consistent supply of petrol in Nigeria.
‘ATM of FG’: Atiku calls for NNPCL’s listing on stock exchange
He said: “NNPCL 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), NNPCL 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.”
Commercial motorcyclists and tricycle riders in Ado-Ekiti on Saturday continued their operations in defiance of…
Two police officers sustained injuries on Friday evening after suspected gunmen attacked and set fire…
The governorship candidate of the Peoples Democratic Party (PDP) in the Ekiti State election, Wole…
Ekiti State Deputy Governor and Deputy Governorship Candidate of the All Progressives Congress (APC), Monisade…
Accreditation has commenced across Ekiti State as more than one million registered voters head to…
The National Agricultural Development Fund (NADF) and the National Root Crops Research Institute (NRCRI), Umudike,…
This website uses cookies.